KENNETT SQUARE, Pa—Genesis Healthcare, Inc. (OTC: GENN), a leading post-acute care provider, has announced a shift to a market-focused model. The model is designed to build out a vertically integrated community-based healthcare system in every market, supported by centralized resources. Whether through skilled nursing facilities, assisted living communities, rehabilitation therapy, physician services or other ancillary services, this approach will help drive community integration and long-term performance.
The shift to a market-focused model is the next step in the company’s turnaround plan. The reorganization puts the local centers and their people at the core of the business while providing the highest-quality care and experience for residents and patients. The more empowered and accountable each market is, the better those centers can fulfill their mission.
Under the market-focused model, each center is supported by a specific market team whose sole purpose is to help the center succeed in better serving residents and patients and driving improvements. A national team will continue to provide support for functions best handled in a centralized way.
“We are excited to move Genesis to the market-focused model,” states David Harrington, the company’s executive chairman of the board. “I have spent much of my career building this framework and have successfully utilized this strategy to drive performance within other organizations. The company’s new and existing leadership will continue to move aggressively to drive improvement and results. ”
Genesis also announced several leadership changes: COO Paul Bach; chief nursing officer, JoAnne Reifsnyder, and chief financial officer, Tom DiVittorio, will be leaving the company. Harrington thanked them and recognized their many years with the company and their support through the pandemic.
New appointments are: Melissa Powell, COO; Orrin Feingold, CFO; and Michael Sherman, chief legal officer. Susan Overton—currently senior vice president, deputy general counsel, risk and litigation—will take the role of General Counsel.
Powell has been president and COO of The Allure Group, a New York City-based nursing home operator nationally recognized for quality, since 2010. Feingold was CFO for ComplexCare Solutions, which provided home-based services for patients with chronic illnesses, as well as for Schweiger Dermatology and Sovereign Health Services. Sherman, currently Genesis senior vice president, general counsel, will take on an expanded strategic role as executive vice president as well as chief legal officer. Prior to becoming general counsel, he was senior vice president of mergers and acquisitions. Overton, who started her career as a Registered Nurse before obtaining her law degree, joined Genesis in 2011.
“The board and I are excited to welcome Melissa and Orrin to the Genesis team as we move into the next phase of the Company’s turnaround,” notes Harrington. “Both bring subject matter expertise that will be critical to the organizational shift within Genesis. I would also like to congratulate Susan and Mike on their expanded roles that will enable them to drive strategy and change at the national support level, while also providing continuity of leadership.”
About Genesis HealthCare
Genesis Healthcare, Inc. is a holding company with subsidiaries that, on a combined basis, offer services to more than 250 skilled nursing facilities and assisted/senior living communities in 23 states nationwide. Genesis affiliates provide high-quality post-acute care, long-term care and assisted/senior living services in the local markets in which they serve. All facilities follow a universal staff COVID-19 vaccine requirement to protect patients, residents, families and fellow colleagues. Genesis subsidiaries also supply rehabilitation therapy to approximately 1,100 healthcare providers in 43 states and the District of Columbia. References made in this release to “Genesis,” “the Company,” “we,” “us” and “our” refer to Genesis Healthcare, Inc. and each of its wholly owned companies. Visit our website at genesishcc.com.
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