Judge approves Genesis HealthCare sale to 101 West in $996M deal
A federal bankruptcy judge approved the sale of Genesis HealthCare and its roughly 300 subsidiaries to the newly formed investment group 101 West for $996 million after a two-month auction, despite objections from rival bidders and questions about bidder connections. The deal includes assuming 50% equity in a related joint venture and is subject to financing and closing conditions, with a backup bid from Genie 3 kept in play.