GENESIS HEALTHCARE ANNOUNCES PRELIMINARY 2016 GROWTH OUTLOOK AND ADJUSTS 2015 GUIDANCE1/25/2016
KENNETT SQUARE, PA – Genesis HealthCare, Inc. (Genesis, or the Company) (NYSE:GEN), one of the largest post-acute care providers in the United States, today announced that it expects to deliver 6% year-over-year EBITDAR growth and more than 13% of EBITDA growth in 2016, building on its expected 2015 EBITDAR growth of 6% and EBITDA growth of nearly 14%.
“Genesis is positioned for continued growth by executing on strategic acquisitions, growing in innovative care delivery segments, driving synergies and operating cost efficiencies as well as selling non-core assets,” said George V. Hager, Jr., Chief Executive Officer of Genesis. “In 2015, we completed the combination with Skilled Healthcare, grew our therapy contract count by 16%, effectively managed operating expenses and completed the December acquisition of 19 Revera facilities. Despite a number of factors that adversely effected our fourth quarter, we expect to deliver 6% year-over-year EBITDAR growth and nearly 14% EBITDA growth at the midpoint of our revised full year guidance.”
“These and our other 2015 accomplishments provide a strong foundation for anticipated growth in 2016,” Hager continued. “We expect to deliver midpoint EBITDAR growth of 6% and EBITDA growth of 13%, accompanied by further progress on our strategic, operational and capital strengthening initiatives.”
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