Genesis Healthcare, one of the largest nursing home operators in the US, defended its choice of an up to $155 million sale to an affiliate of an existing investor against heavy scrutiny from creditors and the US government over potential irregularities in the auction process.
Judge Stacey Jernigan of the US Bankruptcy Court for the Northern District of Texas said during a Wednesday hearing that she needed a clear mathematical comparison of the bids received, including the winning offer from a ReGen Healthcare affiliate and another from Genie 3 Partners.
Genie, which has ties to nursing home executive Jacob Sod, ...