Genesis Healthcare, Inc. (NYSE:GEN) Files An 8-K Results of Operations and Financial Condition
Item 2.02Results of Operations and Financial Condition.
On May 9, 2017, Genesis Healthcare, Inc. (Genesis) issued the
press release furnished herewith as Exhibit 99.1 reporting its
operating results for the first quarter ended March 31, 2017 (the
Earnings Release).
Certain information contained in the Earnings Release refers to
non-GAAP financial measures and other definitions specific to
Genesis businesses.For an explanation of the adjustments and a
description of Genesis uses of, and the limitations associated
with, non-GAAP financial measures, including Adjusted EBITDA,
Adjusted EBITDAR, EBITDA and EBITDAR (each as defined below), see
Reasons for Non-GAAP Financial Disclosure in the Earnings
Release.
Definitions ofnon-GAAP and key performance and valuation measures
used in the Earnings Release:
The following is a glossary of terms for some non-GAAP and key
performance and valuation measures used in reference to Genesis:
Actual Patient Days is defined as the number of residents
occupying a bed (or units in the case of an assisted/senior
living center) for one qualifying day in that period.
Adjusted EBITDA is defined as EBITDA adjusted for certain
excluded items to provide a supplemental performance measure.
Adjusted EBITDAR is defined as EBITDAR adjusted for certain
excluded items to provide a supplemental valuation measure.
Available Patient Days is defined as the number of available beds
(or units in the case of an assisted/senior living center)
multiplied by the number of days in that period.
Average Daily Census or ADC is the number of residents occupying
a bed (or units in the case of an assisted/senior living center)
over a period of time, divided by the number of calendar days in
that period.
EBITDAR is defined as net income or loss attributable to Genesis
Healthcare, Inc. before net income or loss of non-controlling
interests, net income or loss from discontinued operations,
depreciation and amortization expense, interest expense and lease
expense.
EBITDA is defined as EBITDAR less lease expense.
Insurance refers collectively to commercial insurance and managed
care payor sources, including Medicare Advantage beneficiaries,
but does not include managed care payors serving Medicaid
residents, which are included in the Medicaid category.
Occupancy Percentage is measured as the percentage of Actual
Patient Days relative to the Available Patient Days.
Skilled Mix refers collectively to Medicare and Insurance payor
sources.
Therapist Efficiency is computed by dividing billable labor
minutes related to patient care by total labor minutes for the
period.
This information and the information contained in the press
release shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that Section. The information in
this Current Report on Form 8-K is not incorporated by reference
into any filings of the Company made under the Securities Act of
1933, as amended, whether made before or after the date of this
Current Report on Form 8-K, regardless of any general
incorporation language in the filing, unless specifically
stated so therein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit |
Description |
|
99.1 |
Earnings Release dated May 9, 2017 |
About Genesis Healthcare, Inc. (NYSE:GEN)
Genesis Healthcare, Inc., formerly Skilled Healthcare Group, Inc., is a holding company that provides post-acute care. The Company operates through three segments: inpatient services, which includes the operation of skilled nursing facilities and assisted or senior living facilities; rehabilitation therapy services, which includes its integrated and third-party rehabilitation and respiratory therapy services, and all other services, including physician services and other healthcare related services. It offers inpatient services through its network of over 500 skilled nursing and assisted/senior living facilities in 34 states, consisting of over 475 skilled nursing facilities and over 35 stand-alone assisted/senior living facilities. Its skilled nursing and assisted/senior living facilities have over 61,000 licensed beds, with its states of operation in California, Maryland, Massachusetts, New Jersey, and Pennsylvania. Genesis Healthcare, Inc. (NYSE:GEN) Recent Trading Information
Genesis Healthcare, Inc. (NYSE:GEN) closed its last trading session down -0.03 at 2.53 with 128,933 shares trading hands.