Bankrupt Genesis Healthcare Gets Stalking Horse Bid From ReGen

Genesis Healthcare Inc., one of the largest nursing home operators in the US, has filed bankruptcy and struck an initial deal to be acquired by affiliates of ReGen Healthcare LLC, according to court papers filed Thursday.

ReGen is already an investor in Genesis and made its offer in the form of a stalking horse bid, meaning it will set the floor price to purchase Genesis during a potential Chapter 11 auction, the court papers show. The value of ReGen’s bid couldn’t immediately be learned.

Genesis has filed bankruptcy before, in 2000. It avoided filing Chapter 11 again in 2021 ...