GE Capital Agents Credit Facilities of $725 Million for Genesis HealthCare to Acquire Sun Healthcare Group, Inc.

  GE Capital Agents Credit Facilities of $725 Million for Genesis HealthCare
  to Acquire Sun Healthcare Group, Inc.

Business Wire

BETHESDA, Md. -- January 4, 2013

GE Capital, Healthcare Financial Services announced today that it is serving
as administrative agent on a $400 million asset-based revolving credit
facility, and as syndication agent on a $325 million cash flow term loan
credit facility, for Genesis HealthCare. The financing was used to support
Genesis’ acquisition of Sun Healthcare Group, Inc. GE Capital Markets served
as joint lead arranger and sole bookrunner for the revolving loan and joint
lead arranger and joint bookrunner on the term loan.

Headquarter in Kennett Square, PA, Genesis is one of the nation’s largest
providers of skilled nursing and rehabilitation care. Based in Irvine, CA, Sun
is a healthcare services company primarily serving the senior population. The
merger of the two companies has created one of the largest skilled nursing
providers in the country, with 422 skilled nursing centers in 29 states. It
has also expanded Genesis’ rehabilitation therapy business to more than 1,500
contracts in 46 states.

“We’ve been working with the healthcare finance specialists at GE Capital for
over 10 years, so they know us well and continue to work hard to help us meet
our goals,” said Tom DiVittorio, chief financial officer for Genesis. “This
financing allows us to take advantage of an attractive acquisition opportunity
to expand our geographic footprint and realize significant operating

“The combination of healthcare knowledge and structuring expertise means our
customers have access to the capital they need to fund growth and other
strategic initiatives,” said Al Aria, senior managing director of Corporate
Finance at GE Capital, Healthcare Financial Services. “We’re pleased to
support Genesis during this exciting time in their company’s history.”

About GE Capital, Healthcare Financial Services

With in-depth industry knowledge and expertise, GE Capital, Healthcare
Financial Services has provided more than $60 billion in financing over ten
years to companies in over 45 healthcare sectors including senior housing,
hospitals, medical offices, outpatient services, pharmaceuticals and medical
devices. Our team of professionals creates business and financial solutions
tailored to meet the individual needs of our customers. For more information,

GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit
or follow company news via Twitter (@GECapital or @GELendLease). GE (NYSE: GE)
works on things that matter. The best people and the best technologies taking
on the toughest challenges. Finding solutions in energy, health and home,
transportation and finance. For more information, visit the company's website


GE Capital, Americas
Ned Reynolds, 203-229-5717
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