"Patient care at Genesis HealthCare deteriorated as a series of private equity owners extracted millions through financial exploitation for almost two decades.Senator Elizabeth Warren (D-Mass) is set to reintroduce the Corporate Crimes in Health Care Act - legislation that authorizes criminal and civil penalties for private equity owners of healthcare organizations when their actions cause the injury or death of patients under their care. It is the toughest legislation to date designed to curb the worst excesses of Wall Street owners in healthcare."
"On December 10, a bankruptcy court will decide whether private equity owners behind one of the country's largest nursing home chains - the Pennsylvania-based Genesis HealthCare - will be able to use the bankruptcy process to rid itself of millions in debts and obligations to residents and their families, workers, and vendors. More than 200 lawsuits against Genesis - alleging malpractice, wrongful death or other injury - have been put on hold during the bankruptcy proceedings."
Private equity owners extracted millions from Genesis HealthCare for nearly two decades while patient care deteriorated. Elizabeth Warren will reintroduce the Corporate Crimes in Health Care Act to authorize criminal and civil penalties for private equity owners whose actions cause patient injury or death. A December 10 bankruptcy court ruling will decide whether Genesis owners can use bankruptcy to shed millions in debts and obligations, stalling over 200 malpractice, wrongful-death, and injury suits. Genesis spent $8 million monthly on litigation before filing for bankruptcy in July 2025. Claimants seek a delay and an examiner to probe alleged insider bidding.
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