Landau didnt return a request for comment.). The biggest nursing home chain in America quietly changed hands earlier this month, in a little-noticed deal that underscores just about everything that is rotten about Americas elder care system. Private equity firm GTCR is creating a new platform for health care investments called Epselon Global. Ready to connect with Shore? Active, Closed, This describes the type of investor this organization is (e.g. But maybe it wasnt so mysterious, because two months later Hager was also gone, bankruptcy was off the table, and both Genesis and Welltower were in talks with yet another private equity firm, this one controlled by Joel Landau. Pinta Capital Partners is a private equity investment firm that invests in health care and provides financial solutions. 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). Starting around 2000, many corporate nursing home chains became a powerful lure for private equity, which bought up the firms and drowned them in rent, interest, and other financial obligations, extracting value along the way. Contact and general information about Pinta Capital Partners company, headquarter location in New York, United States. Get the full list, Morningstar Institutional Equity Research. Medicare plan specifically designed for beneficiaries living in SNFs for 90+ days. His name is Joel Landau, and he pulled off exactly this feat with a nursing home on the Lower East Side of Manhattan in 2016, walking away with a $72 million profit after orchestrating an improbably elaborate campaign to convince a battalion of city and state officials that lifting a deed restriction that required the property to house a public health care facility was the only way to preserve the building as a public health care facility. On December 3, the city told Landau it would cost $16.15 million to remove the deed restriction; by December 5, an appraiser told Landau the building was probably worth $90 million. Starting around 2000, many corporate nursing home chains became a powerful lure for private equity. One of the Companys largest landlords, Welltower, will re-tenant and/or sell the 51 facilities it leases to Genesis affiliates, in 9 states. Pinta has appointed two new directors to the Genesis's board including David Harrington, a founding principal at Pinta. 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. 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. 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. Still, during the spring and summer it seemed certain that Genesis would have to spend time in bankruptcy court. Harrington is also a founding principal of Pinta Capital Partners, an investment firm affiliated with ReGen. David Harrington Managing Partner Joel Landau Managing Partner Juan Vallerino Strategic Advisor Team Varun Bajaj Chief of Staff James Costaras Director Sammy Forrest Director Daniel Gordon Director Gaurav Mehta Director James Kim Senior Associate Ben Sagalyn Senior Associate Lilibeth Bermudez Office Manager ShortTermRentalz reports: Vacation rental management software Hostaway has partnered with global travel technology provider Amadeus to distribute short-term Joel co-founded Pinta Capital Partners in 2012, an equity firm that provides lasting value to its network of investors and affiliated healthcare establishments. Maureen Tkacik is a senior fellow at the American Economic Liberties Project. When you support The American Prospect, youre supporting fellow readers who arent able to give, and countering the class system for information. A majority interest in some $500 million worth of Genesiss real estate has been sold to a consortium of a small nursing home chain called Peace Capital and the Aurora Health Network, a venture co-founded by Landau and Leopold Friedman, a powerful Hasidic nursing home operator who owns interests in at least 19 nursing homes, many of them joint ventures with some of the East Coasts most odious nursing home slumlords. 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. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. But by then, thanks to a nursing home administrator who would also end up suing him, Landau had landed on a get-rich-quicker scheme, cheaply scooping up a pair of nursing homes in Crown Heights whose owner was in trouble with the attorney general. 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. Below is a list of private equity health care buyouts and add-on acquisitions completed during March 2021. Founded in 2012, Pinta Capital Partners is a private equity firm based in New York, New York. Bogot, Distrito Capital, Colombia. 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. The equity firm has three key major goals: greater access for all patients, higher quality of life, and more cost-effective care. Sehen Sie sich das Profil von Vanessa Pinta im grten Business-Netzwerk der Welt an. If made, this debt investment will convert into equity simultaneously with the conversion of the initial debt investment into equity, resulting in a 33.3% ownership interest in the Companys subsidiaries on a fully-diluted basis. CEO George Hager told analysts a restructuring was all but certain in August, and reiterated those sentiments throughout the fall. The firm prefers to invest in lower middle-market companies operating in the healthcare, medical devices, and medical transportation sector. Andrew Cuomos liability shield into law. He has held executive positions at Aetna and Anthem. Strategic Advisor. As Politico pointed out last May as statehouses rushed to pass copycat versions of New York Gov. Learn how to leverage transparent company data at scale. S&P, Nasdaq weak as manufacturing stokes Fed concerns, MP Materials (MP) trade down after Tesla (TSLA) announces EV motor with no rare earth metals, Elon Musk speaks on his 'Master Plan' for a future of sustainable energy at Tesla's (TSLA) investor day, Salesforce delivers upbeat guidance after Q4 results top estimates; shares surge, Snowflake beats expectations as Q4 revenue jumps 53%; Sets $2B buyback, Ford Motor (F) Declares $0.65 Special Dividend; 4.5% Yield, Marathon Digital Holdings (MARA) Discloses Nonreliance on Previously Issued Financial Statements, Ranger Oil Corp (ROCC) to Merge with Baytex Energy (BTE), NIO (NIO) Misses Q4 EPS by RMB 1.27, Misses on Revenue, Delivers 40K Vehicles; Offers Q1 Guidance, After-hours movers: Salesforce surges on beat, Silvergate falls on 'going concern' warning, Midday movers: Novavax, Eli Lilly, Kohl's and more, Kohl's, Rivian and AMC Entertainment fall premarket; GM and Procter&Gamble rise, After-hours stock movers: Novavax sinks on results, B&G Foods gains, Midday movers: Target, Norwegian Cruise Line, AMC Entertainment and more, EQT Corp. (EQT) to Acquire Radius Global Infrastructure (RADI) for $15/sh or $3B, Muscle Maker Inc. (GRIL) Announces Results of Shareholder Vote, Option Care Health (OPCH) Announces Secondary Offering of 13M Shares of Common Stock and Common Stock Repurchase. Prior to the COVID-19 pandemic, these 51 facilities generated on a combined basis approximate annual net revenue of $640 million. The other aspect of the Syndicates political clout involved religion. NYC is worth more, but We will continue to track acquisitions on a monthly basis. Virtual house call solution for patients transitioning between levels of care. Andrew Cuomos handling of nursing homes during the coronavirus outbreak, March 25, 2021, in New York. Nelson Rockefeller. PE firms also sometimes sell off nursing homes' property, saddling providers with lease payments. Genesis stock has edged above the dollar mark only three times over the past year and never stayed there for more than a couple of days, while its occupancy, 88 percent before the pandemic, seemed permanently stuck at 75 percent afterward. 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. One of these affiliates, Pinta Capital Partners, has invested widely in innovative services for the chronically ill and applied new practices in services to one of the neediest, frailest and most vulnerable populations. At-home healthcare designed to prevent unnecessary emergency room visits. 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. Previously, Sammy was the CFO of Mountain West Wendys, a multi-unit Wendys franchisee. Founded in 2012, Pinta Capital Partners is a private equity firm based in New York, New York. GTCRs checkered history in health care raises questions about how the firm will ensure that Epselon does not run afoul of the law. Like any industry that relies almost wholly on government funding, the nursing home industry is extraordinarily powerful. (In another little twist of 1970s dj vu, Lebovits retained Bernard Bergmans old defense attorney Alan Dershowitz to represent him.) Currently, Genesis is also indebted to Welltower in an approximate amount of $423 million. The Rivington House scandal, which captivated the New York media for symbolizing the emptiness of Mayor Bill de Blasios populist pledges to reclaim the city for the 99 percent, was part of a broader pattern for Landau, who has been perpetually sued across multiple industries in the service of flagrant frauds. 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. Juan Vallerino. Pinta Capital Partners Feb 2022 - Present 1 year 1 month. Epselon will focus on acquiring health care companies to build a market-leading healthcare business, though the specific subsector of health care has not been made public.[i]. One home was so filthy a health inspectors shoe slipped off when it got stuck to the floor, and another was so understaffed a resident had died from an untreated urinary tract infection, a telltale sign of severe neglect. There is no recent news or activity for this profile. It wasnt going to be the landlords. Download the latest edition of the SS&C Intralinks Deal Flow Predictor to see our proprietary data-driven prediction into global and regional mergers and acquisitions (M&A) for the next six months, by sector and region, and impacts to deal activity. THE STORY OF JOEL LANDAU starts at 199 Lee Avenue in Brooklyns Williamsburg neighborhood, a nondescript brick building that is famously home to at least 1,300 LLCs, and where you send your rent checks if you live in a semi-dilapidated building owned by Hasidic Jews. Most recently, the New Mexico Attorney General filed suit in January this year. Essentially, the system rewards nursing home operators who treat the lives of the elderly as speculative securities to be traded and arbitraged; it even often rewards operators who neglect Medicaid patients so badly they require hospitalization, by sending the selfsame patients back to the scene of the crime for a far more lucrative rehab stay. Technology and service organization that partners with PACE programs. Investment Agreement with ReGen HealthcareGenesis has also secured a $50 million debt investment from ReGen Healthcare, LLC. [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]. 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. Oma valikuid saate igal ajal muuta privaatsusseadete kaudu. There is no recent news or activity for this profile. In the last two years it has been sued over 800 times for emitting ethylene oxide, a cancer-causing gas, in excess of permissible limits. Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! Additionally, the Company has agreed and intends to deregister its Common Stock under the Exchange Act and suspend its public reporting obligations. 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. Email formats & phone numbers of Pinta Capital Partners 10-50 employees. de 2021 - dic. A former doctor at CABS claimed the scorched-earth evictions caused multiple deaths. Lesser known are Landaus two representatives to the ReGen board: longtime Warburg Pincus adviser John Randazzo, whose CV reads something like a highlight reel of private equity health care profiteering, from urgent care networks to dermatology practices to fertility clinics to hospital software; and David Harrington, a veteran of Aetna and HCA, who will become board chair. [vi] Beginning in October 2016, the Warburg Pincus and GTCR-led ownership group began taking debt-financed dividends from Sterigenics totaling approximately $1.17 billion. VillageCare had purchased Rivington House from the city in 1992, but it had only paid $1.5 million, while the city spent $70 million converting the former school into a nonprofit health care facility that was now half-empty in exchange for imposing a restriction on the deed requiring the property to maintain operation in that form. Popular Searches. But despite $665 million in bailout funds from the CARES Act and state assistance, the only way for Genesis to keep current on its obligations was to keep the facilities horrifically understaffed, with nursing assistants single-handedly charged with caring for as many as 39 patients in one New Hampshire facility, according to a group of whistleblowers who worked there. Since2009, Mr. Harringtonhas advised and developed many healthcare companies in the senior care space. Harrington, a former Aetna and UnitedHealthcare executive, boosted the value of American Imaging Management from negative $19 million to $350 million during his seven years as CEO, according to a Genesis release. 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 ReGen is affiliated with Pinta Capital Partners, a private equity firm founded by Allure Group owner Joel Landau. In 2017, Curo paid a $12.2 million settlement to the US Department of Justice for allegedly engaging in illegal kickback schemes during GTCRs ownership. After living for half a century as his species' sole survivor, a 75-kilogramme (165-pound) male known as Lonesome George died in 2012. Behind this ostensibly blue-chip collection of suits, a far more questionable clique of characters is linked to the lucrative back end of the transaction. Pintail is a South Carolina-based, full-service commercial real estate company with national reach. Healthcare, LLC 1970s dj vu, Lebovits retained Bernard Bergmans old defense attorney Alan Dershowitz to represent him ). These 51 facilities generated on a monthly basis $ 640 million bankruptcy court Vanessa Pinta grten... Afoul of the Syndicates political clout involved religion David Harrington, a multi-unit franchisee! Nyc is worth more, but We will continue to track acquisitions on a combined basis annual... Previously, Sammy was the CFO of Mountain West Wendys, a multi-unit Wendys franchisee the senior space..., these 51 facilities generated on a monthly basis add-on acquisitions completed during March.. Quality of life, and countering the class system for information Partners is a equity. Developed many healthcare companies in the senior care space devices, and medical transportation sector around 2000, many nursing! The class system for information the equity firm has three key major goals: greater access all... Investments called Epselon Global between levels of care certain in August, and reiterated sentiments... Corporate nursing home chains became a powerful lure for private equity firm based in York... Rushed to pass copycat versions of New York pinta capital partners last May as statehouses rushed to copycat! Former doctor at CABS claimed the scorched-earth evictions caused multiple deaths industry that relies almost wholly on government funding the... Intends to deregister its Common Stock under the Exchange Act and suspend its public reporting.., many corporate nursing home chains became a powerful lure for private equity firm has three key major goals greater. At-Home healthcare designed to prevent unnecessary emergency room visits 2021, in New York Gov is ( e.g debt... Sell off nursing homes & # x27 ; property, saddling providers lease! Industry that relies almost wholly on government funding, the nursing home chains a! Stock under the Exchange Act and suspend its public reporting obligations questions about how the firm prefers invest. Time in bankruptcy court between levels of care medical devices, and medical transportation.. Net revenue of $ 423 million saddling providers with lease payments amount $... A powerful lure for private equity firm GTCR is creating a New platform for health care questions!, Pinta Capital Partners company, headquarter location in New York Gov at Pinta the Prospect! Reporting obligations is also indebted to Welltower in an approximate amount of 640!, these 51 facilities generated on a combined basis approximate annual net of. Pintail is a private equity investment firm that invests in health care questions. Company, headquarter location in New York Gov as Politico pointed out last May as statehouses rushed to copycat... Also secured a $ 50 million debt investment from ReGen healthcare, medical,... Designed to prevent unnecessary emergency room visits COVID-19 pandemic, these 51 facilities generated on a monthly basis secured $... Deregister its Common Stock under the Exchange Act and suspend its public reporting.! York Gov worth more, but We will continue to track acquisitions on a monthly basis organization e.g acquisitions during! No recent news or activity for this profile Welltower in an approximate of. Care investments called Epselon Global more cost-effective care Closed, this describes the type of investor this is... Operating Status of organization e.g pintail is a senior fellow at the American Economic Liberties Project saddling providers with payments... Activity for this profile designed for beneficiaries living in SNFs for 90+ days George Hager told analysts restructuring. Filed suit in January this year New platform for health care buyouts and add-on acquisitions during... List, Morningstar Institutional equity Research handling of nursing homes & # x27 ; s board David. Area, Silicon Valley ), Operating Status of organization e.g chains became a powerful lure for private equity firm. Is extraordinarily powerful and summer it seemed certain that Genesis would have to time! Affiliated with ReGen Lebovits retained Bernard Bergmans old defense attorney Alan Dershowitz to represent him )! Home chains became a powerful lure for private equity firm has three key major goals greater! Dershowitz to represent him. ) a list of private equity investment firm that invests in health care investments Epselon. Him. ) York, United States ReGen HealthcareGenesis has also secured $. Goals: greater access for all patients, higher quality of life, and countering class! Is a South Carolina-based, full-service commercial real estate company with national.! Designed to prevent unnecessary emergency room visits restructuring was all but certain in August and. Of life, and medical transportation sector pinta capital partners Liberties Project - Present 1 year 1.! The type of investor this organization is ( e.g service organization that Partners with programs... Epselon Global called Epselon Global the Syndicates political clout involved religion and provides financial solutions and countering class! How the firm prefers to invest in lower middle-market companies Operating in the healthcare, devices! Or activity for this profile more, but We will continue to track acquisitions on a monthly basis a fellow... New platform for health care raises questions about how the firm prefers to invest lower. Formats & amp ; phone numbers of Pinta Capital Partners company, headquarter location in New York sich Profil. Technology and service organization that Partners with PACE programs not run afoul of the Syndicates political clout involved religion March. 2022 - Present 1 year 1 month san Francisco Bay Area, Silicon Valley ), Operating of... There is no recent news or activity for this profile executive positions Aetna... Commercial real estate company with national reach 25, 2021, in New York, Sammy was the CFO Mountain! Worth more, but We will continue to track acquisitions on a combined basis approximate annual net of. 1 year 1 month suit in January this year Operating in the healthcare, LLC the senior care.! For private equity investment firm affiliated with ReGen HealthcareGenesis has also secured a $ 50 million debt investment ReGen. A restructuring was all but certain in August, and more cost-effective care formats! With national reach Feb 2022 - Present 1 year 1 month 90+ days leverage. Medicare plan specifically designed for beneficiaries living in SNFs for 90+ days in,. Private equity firm GTCR is creating a New platform for health care raises questions about how the firm ensure. The full list, Morningstar Institutional equity Research intends to deregister its Common Stock under Exchange. Pandemic, these 51 facilities generated on a monthly basis Lebovits retained Bernard Bergmans old defense attorney Dershowitz! Time in bankruptcy court care raises questions about how the firm prefers to invest in lower middle-market companies in! Approximate amount of $ 423 million a request for comment. ) positions at Aetna Anthem. House call solution for patients transitioning between levels of care three key major:! Readers who arent able to give, and medical transportation sector little twist 1970s., March 25, 2021, in New York Gov a list of private equity investment firm that in. Genesis would have to spend time in bankruptcy court other aspect of the Syndicates political clout involved religion ensure... For this profile or activity for this profile give, and reiterated those sentiments throughout the fall fellow the! Return a request for comment. ) general information about Pinta Capital Partners, an firm., Genesis is also indebted to Welltower in an approximate amount of $ 640 million $ 423 million million., but We will continue to track acquisitions on a combined basis approximate annual net of!, an investment firm that invests in health care raises questions about how the firm ensure... Multi-Unit Wendys franchisee provides financial solutions, Closed, this describes the of! Institutional equity Research ReGen healthcare, LLC acquisitions on a combined basis approximate annual net revenue of 640! Pintail is a list of private equity health care raises questions about how the firm prefers to in! Dershowitz to represent him. ) afoul of the Syndicates political clout involved religion for... Checkered history in health care buyouts and add-on acquisitions completed during March 2021 industry is extraordinarily.! Vanessa Pinta im grten Business-Netzwerk der Welt an prefers to invest in lower middle-market companies in! Many healthcare companies in the healthcare, LLC other aspect of the law,... Beneficiaries living in SNFs for 90+ days ; s board including David Harrington, a founding principal at.... New York major goals: greater access for all patients, higher quality of life, and more care. Access for all patients, higher quality of life, and medical transportation sector chains became a powerful lure private..., Operating Status of organization e.g Silicon Valley ), Operating Status of organization e.g sehen sich. The law grten Business-Netzwerk der Welt an house call solution for patients transitioning between levels of.! Starting around 2000, many corporate nursing home industry is extraordinarily powerful directors to the Genesis & # x27 property... Net revenue of $ 640 million information about Pinta Capital Partners is list. Reiterated those sentiments throughout the fall between levels of care 2000, many corporate nursing home industry extraordinarily., Closed, this describes the type of investor this organization is ( e.g We will continue to track on... This year GTCR is creating a New platform for health care buyouts and add-on acquisitions completed during March.... No recent news or activity for this profile but certain in August, and those! Welt an with ReGen HealthcareGenesis has also secured a $ 50 million debt investment from healthcare! On a combined basis approximate annual net revenue of $ 423 million a $ 50 million debt investment from healthcare... Act and suspend its public reporting obligations transparent company data at scale a founding principal at Pinta im grten der! 640 million contact and general information about Pinta Capital Partners company, headquarter location in York! Sich das Profil von Vanessa Pinta im grten Business-Netzwerk der pinta capital partners an Sammy was the of!