They sold the land under the nursing homes with the money going straight to the PE firm. The nursing home then had to start paying rent on the land they once owned. The PE company then cut costs, meaning they slashed the staff at the nursing homes. So the quality of care went down and Genesis racked up a massive amount of debt. And then things got really bad. Seniors in the homes were neglected. (00:42–00:49)
CLAIM
Asserts that the private equity firm reduced staff at Genesis nursing homes to cut costs.
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