They have nearly 200 facilities all across the country. A private equity company bought Genesis. And what came next is straight from the private equity playbook. 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. (00:30–00:37)
CLAIM
Asserts that the private equity firm sold the land under the nursing homes and kept the proceeds.
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