Headquarters Regions Greater New York Area, East Coast, Northeastern US Founded Date 2012 Operating Status Active Investor Type Venture Capital Investment Stage Private Equity Contact Email partners@pintapartners.com Phone Number 212-740-6700 Lists Featuring This Company Private Equity Stage Investors The chairman's seat went to David Harrington, a veteran health-care executive. Mr. Randazzo has served as a senior advisor to global private equity firm, Warburg Pincus, for over 20 years. Worse, she told me, the kitchen never had snacks, not even Saltines. Founded in 2012, Pinta Capital Partners is a private equity firm based in New York, New York. Landau didnt return a request for comment.). Indeed, all of the chains publicly traded landlords report it has been current on its obligations. What about Genesiss circumstances had changed so quickly and dramatically that they had triggered a massive shake-up of the companys C-suite in the midst of a literal bloodbath? In August 2007, AIM was sold to WellPoint for $307 million. After living for half a century as his species' sole survivor, a 75-kilogramme (165-pound) male known as Lonesome George died in 2012. View contacts for Pinta Capital Partners to access new leads and connect with decision-makers. Pinta Capital Partners Jun 2012 - Present10 years 9 months Greater New York City Area Pinta Capital Partners, co-founded by Joel Landau, is an equity firm that seeks to provide solutions that. Harrington purports to go way back with Landau; the two apparently co-founded a private equity firm called Pinta Capital Partners in 2012, though no one bothered registering that company's domain name until 2017. Pinta Capital. Drawing from his own knowledge and success, he grows and creates companies that serve the elderly, disabled, and chronically ill people of New York City. Find More Contacts for Pinta Capital Partners, Edit Lists Featuring This Company Section, New York Companies With Fewer Than 50 Employees (Top 10K), Greater New York Area Companies With Fewer Than 50 Employees (Top 10K). The Company anticipates that the last day of trading on New York Stock Exchange will be on or about March 25, 2021. Most recently, the New Mexico Attorney General filed suit in January this year. In addition, at the closing of the second investment, ReGen Healthcare would be issued a warrant, exercisable for equity, which, together with the two debt investments, would represent an ownership interest of approximately 43% of the Companys subsidiaries on a fully-diluted basis. The Company intends to file a Form 25 with the Securities and Exchange Commission (the SEC) on or about March 15, 2021 in order to delist from the New York Stock Exchange. Im Profil von Vanessa Pinta sind 4 Jobs angegeben. [xi], Curo Health Services, a home health and hospice company that GTCR formed in 2010, [xii] has also faced legal trouble. Whatever his intentions for the Genesis homes, its safe to say they cant be good. Reports on the abuses within his homes drew condemnations from the Synagogue Council and the Federation of Jewish Philanthropies and even briefly made him a pariah in Israel, where Orthodox youth leaders called for his ouster from the leadership of the Mizrachi movement. Part of the problem is that the nursing home industry is fragmented and difficult to understand; the other part is that it is, like any industry that relies almost wholly on government funding, extraordinarily powerful. The severity of the pandemic dramatically impacted patient admissions, revenues and costs, compounding the pressures of our long-term, lease-related debt obligations, said Chief Executive Officer Robert Fish. Pinta Partners. I really believe my proposal is a win-win and will keep ALL jobs, he promised in a typical text to SEIU 1199 political director Kevin Finnegan, who would become a close confidant and accomplice. As part of the agreement, two Genesis Board Members, John F. DePodesta and Terry Rappuhn, have relinquished their current positions and ReGen Healthcare has appointed Mr. David Harrington and Mr. John Randazzo, effective immediately. Then as now, the nursing home Syndicate operates with an almost baffling sense of impunity, in part because like Bergman before him, Landau and Freidman et al. KENNETT SQUARE, Pa., March 03, 2021 (GLOBE NEWSWIRE) -- Genesis Healthcare, Inc. ("Genesis" or the "Company") (NYSE: GEN) announced today a three-part strategic restructuring plan to strengthen the. Having entered the market in the early 2000s, it now provides landline telephony, broadband and TV services . At-home healthcare designed to prevent unnecessary emergency room visits. Mr. Landau has also been connected to Rivington House, the Allure Group, Genesis HealthCare, Pinta Capital Partners, and other ventures that have been involved in litigation, and his involvement with Cornerstone has raised concerns amongst residents.The likelihood of Cornerstone re-emerging as a local issue is almost certain. In August 2007, AIM was sold to WellPoint for $307 million. TalkTalk is the UK's leading value-for-money broadband provider. He has held executive positions at Aetna and Anthem. Still, during the spring and summer it seemed certain that Genesis would have to spend time in bankruptcy court. Juan Vallerino. We target innovative businesses across the healthcare spectrum that improve patients lives, deliver best in class care, and eliminate waste. Other creatures that never made it out of intensive care . Sammy also spent several years as an investor at Irvine Company, one of the nations largest private real estate companies. Back in the 1970s, though, Congress and regulatory agencies eventually mustered the political will to break up the Syndicate. Nelson Rockefeller. [ii] Multiple GTCR health care companies have made headlines for lawsuits alleging cancer-causing emissions, poor medical care, billing fraud, and other issues. Klpsates nuppu Aktsepteeri kik, nustute, et Yahoo ja meie partnerid ttlevad teie isikuandmeid ning kasutavad isikuprastatud reklaamide ja sisu kuvamiseks, reklaamide ning sisu mtmiseks, sihtrhma levaateks ja tootearenduseks selliseid tehnoloogiaid nagu kpsised. Pinta Capital Partners is a private equity investment firm that invests in health care and provides financial solutions. Like any industry that relies almost wholly on government funding, the nursing home industry is extraordinarily powerful. In February 2016, The Wall Street Journal broke the news that the largest residential real estate developer in China had purchased Rivington House for $116 million, netting Landau an instant $72 million profit and sudden blitz of notoriety. We are long-term investors who partner with founders and operators to create lasting value. Thats likely because Genesis wasnt really in control of its finances. Theyre closing the place! One of the last patients at Rivington House, a skeletal cancer patient with AIDS and pneumonia, was discharged to a fifth-floor walk-up in such a frail state he literally had to crawl up the stairs to reach it. The Comptrollers Office pored over 80,000 documents and issued a 32-page report summarizing its findings. There is no recent news or activity for this profile. In recent years, the savviest nursing home operators have agreed to play along and attempt to fill more of their beds with Medicare patients, for whom they can bill the government at far higher ratesroughly $500 a night compared with $200 for Medicaid bedsalbeit only for short-term rehabilitative stays. Edit Lists Featuring This Company Section, Greater New York Area Venture Capital Investors. Joel Landau founded Pinta Capital Partners in 2012, a private equity firm that partners with healthcare leaders and operators to drive value and help businesses achieve their full potential. Lean Solutions Group. Joel's interest in healthcare first began when he was helping take care of a close family member. Investment Management Exceptional value in amazing area at reasonable price! Get an exclusive preview of global and regional M&A activity in Q1 2023 plus in-depth market analysis. He is currently Executive Chairman of Waters Edge Dermatology, one of the largest dermatology practices in the country, and Executive Chairman of Sentry Data Systems, a provider of pharmacy technology solutions to hospitals. Technology and service organization that partners with PACE programs. new platform for health care investments called Epselon Global, has been sued at least 1,395 times in federal courts, https://www.prnewswire.com/news-releases/gtcr-announces-healthcare-partnership-with-michael-mulhern-and-phil-macnabb-to-form-epselon-global-301240973.html, https://www.gtcr.com/investments/healthcare/, https://www.medtechdive.com/news/new-mexico-sues-sterigenics-over-ethylene-oxide-emissions/592953/, https://sterigenics.com/sterigenics-announces-recapitalization-with-warburg-pincus-gtcr/, https://cfpub.epa.gov/ncea/iris2/chemicalLanding.cfm?substance_nmbr=1025, Dividend Recapitalizations in Health Care: How Private Equity Raids Critical Health Care Infrastructure for Short Term Profit, https://cookcountyrecord.com/stories/524626117-eto-plaintiffs-even-before-1st-lawsuit-filed-sterigenics-moved-to-put-1-3b-out-of-reach-of-personal-injury-lawsuits, https://investors.soterahealth.com/node/7231/html, https://www.gtcr.com/investments/past-investments/#healthcare, https://www.yahoo.com/lifestyle/leading-profit-prison-immigration-detention-medical-company-sued-least-1395-times-100026407.html, https://www.reuters.com/article/us-gtcr-curohealth/gtcr-looking-to-sell-u-s-hospice-firm-curo-health-services-sources-idUSKBN0GC20420140812, https://www.justice.gov/usao-ndtx/pr/hospice-companies-pay-122-million-settle-kickback-claims, https://skillednursingnews.com/2021/03/nursing-home-giant-genesis-to-restructure-voluntarily-delist-from-nyse/, https://www.nytimes.com/live/2021/03/04/business/stock-market-today/a-struggling-nursing-home-giant-effectively-goes-private-after-a-cash-infusion, https://bfi.uchicago.edu/working-paper/does-private-equity-investment-in-healthcare-benefit-patients-evidence-from-nursing-homes/, https://www.warren.senate.gov/imo/media/doc/2021.03.16%20Letter%20Response%20to%20Genesis%20Healthcare%20re%20Executive%20Pay%20and%20CARES%20Act%20Funding%20(2).pdf, Ares Capital, Audax Group, Genstar Capital and Linden Capital Partners, Charterhouse Capital Partners, Mrieux Equity Partners and Partners Group, Everstone Capital, Goldman Sachs Merchant Banking Division, Total Body Rehab: Orthopedic and Hand Therapy, Gryphon Investors, Harris Preston & Partners, Harris Preston & Partners, Gryphon Investors, L Catterton, Searchlight Capital Partners and Silver Point Capital, M33 Growth, Havencrest Capital Management, ROCA Partners, The Oncology Institute of Hope and Innovation, Sunwater Capital, Equality Asset Management, The Carlyle Group, Level Equity and Silversmith Capital Partners, Childrens Center For Growth and Development, Partners in Drug Abuse Rehabilitation Counseling, Webster Equity Partners, BPEA Private Equity. ReGen Healthcare, together with its affiliates and its principals, has a track record of successfully creating and turning around companies that improve both healthcare delivery and insurance processes for health plans, their members, and their provider partners. Across the river, Landau was making the same pitch to VillageCare, the AIDS charity that owned Rivington House, one of those New York prestige nonprofits that grosses hundreds of millions of dollars in annual revenue and drew most of its board members from Wall Street, real estate, and New York University. LIKE A LOT OF NURSING HOME OPERATORS, Genesis has been battered by the twin 21st-century plagues of private equity looting and coronavirus. FREE Breaking News Alerts from StreetInsider.com! [iii], Sterigenics is a medical device sterilization company. David earned his MBA from Columbia University and earned his bachelors from Boston College. On or about March 25, 2021, the Company intends to file a Form 15 with the SEC, at which time the Company anticipates that its obligations to file periodic reports under the Exchange Act, including annual, quarterly and current reports on Form 10-K, Form 10-Q and Form 8-K, respectively, will be suspended, and that all requirements associated with being an Exchange Act-registered company, including the requirement to file current and periodic reports, will terminate 90 days thereafter. Prior to the COVID-19 pandemic, these 51 facilities generated on a combined basis approximate annual net revenue of $640 million. However, the Company can give no assurance that trading in its Common Stock will continue on the Pink Sheets or any other securities exchange or quotation medium. Sammys investment banking career included roles at Raymond James, Orix Real Estate Capital, and Wells Fargo Securities where he worked with healthcare services companies and healthcare-focused private equity firms. [xvii], Following Genesiss announcement, Sen. Elizabeth Warren wrote a letter to Genesis raising concern about the transaction and highlighting large payouts made to its now-departed CEO despite declining financial condition.[xviii]. Transition out of 51 facilities leased from Welltower Genesis currently leases 246 skilled nursing and assisted/senior living facilities from third parties, including public and private real estate investment trusts (REITs). The investment gives Pinta a 25% ownership stake with options to increase its share to 43% by April 15. Provide support in the development of the different operational activities in the accounts/companies of the organization's clients. Teave teie seadme ja internetihenduse (nagu teie IP-aadressi) kohta, Sirvimis- ja otsingutegevused Yahoo veebilehtedel ja rakendustes. And states reward these operators as well, because the more they bilk the federal government, the less they bother with the state-subsidized Medicaid budget. First, Genesis has agreed to terminate its master lease covering 51 facilities leased from affiliates of Welltower Inc. (Welltower) and transition operations to new operators. Virtual house call solution for patients transitioning between levels of care. At Pinta, Joel continues to focus on the future of healthcare services by investing, partnering, and growing healthcare companies that can provide greater access for all patients, deliver a higher quality of life, and more cost-effective care. Learn how to leverage transparent company data at scale. The Company thanks Mr. DePodesta and Ms. Rappuhn for their service and dedication throughout their respective tenures, said Robert Fish Genesis welcomes Mr. Harrington and Mr. Randazzo on our Board of Directors and will benefit greatly from their deep and diversified experience in healthcare delivery management, healthcare sector financial expertise and entrepreneurial acumen.. While the company had ostensibly been taken public in 2014, Formation Capital retained a substantial stake in the company, and more importantly controlled the board of directors until around October 2018. Private equity acquisitions are typically funded with borrowed money, creating debt that is subsequently transferred onto nursing homes' balance sheets. Win whats next. They beg me for a bit of juice and I have nothing to give them, she says. Total number of Crunchbase contacts associated with this organization, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. The nursing home business is literally crawling with guys like Landau, many of whom are in turn linked to either Landau or his partners. CABS filed suit against Landau, as did a former business partner, along with a long list of small $15.25-an-hour nursing contractors who had been stiffed by Landau over the past few years: He allegedly owed $15,956.39 plus two $35 bounced-check fees to Home Health Care Services of New York, $40,000 to Fadmo Health and Home Care Agency of Staten Island, $54,084 to 1st Choice Home Care of Brooklyn, $121,665 to Edison Home Health Care of Brooklyn, $54,246.72 to Regency Home Health Care, $64,840.97 to Signature Care LLC, and so on. Andrew Cuomos liability shield into law. Then Landau emerged, and with stunning alacrity won over all the relevant stakeholders with the same line that had wooed CABS: Nothing would change! Chicago 1 East Wacker Suite 2900 Chicago, IL, 60601 312-348-7580 Nashville 1600 West End Ave., Suite 1950 Nashville, TN 37203 615-551-7001 After the changes, Genesis was no longer a publicly traded firm. Klpsake nuppu Halda stteid lisateabe saamiseks ja oma valikute haldamiseks. Pinta Capital Partners Contact Information. Joel co-founded Pinta Capital Partners in 2012, an equity firm that provides lasting value to its network of investors and affiliated healthcare establishments. Pinta Partners LLC. As a co-founder of Pinta Capital Partners equity firm, Landau has used his management expertise to identify new market opportunities for early and mid-stage healthcare businesses. Joel Landau, Bent Philipson and another partner paid $44 million to Sean Lavin's Galway Properties, LLC for the addiction treatment facility (I1) at 159-05 Joel Landau founded Pinta Capital Partners in 2012, a private equity firm that partners with healthcare leaders and operators to drive value and help businesses achieve their full potential. Ready to connect with Shore? 245 Main St Suite 450 White Plains, NY 10601 Phone: (914) 220-1086 Fax: (516) 394-4229 555 5th Ave 14th Floor New York, NY 10017 Toll Free: (855) 228-7369 (By Appointment Only) 1370 RXR Plaza Uniondale, NY 11556 Phone: (914) 594-6820 Fax: (516) 394-4229 12 1st St Riverhead, NY 11901 Phone: (914) 825-5855 Fax: (516) 394-4229 New York, New York, United States 11-50 Private Equity Firm www.pintacapitalpartners.com/ 33,523 Highlights Contacts 2 Similar Companies 13 Recent News & Activity There is no recent news or activity for this profile. 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