At-home healthcare designed to prevent unnecessary emergency room visits. Get the full list, To view Pinta Capital Partnerss complete exits history, request access, Youre viewing 5 of 10 team members. Our Story And since Formation had multiple other deals going with the REITs that owned Genesiss buildings and the lenders like Apollos MidCap Financial that supplied its cash, the haircuts were always going to be borne by the workers and the residents. In return, Genesis will receive approximately $86 million, which it will use to repay a portion of its debt obligations to Welltower. Win whats next. 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. He has held executive positions at Aetna and Anthem. 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 In August 2007, AIM was sold to WellPoint for $307 million. [vii], Some of the pending lawsuits against Sterigenics allege that Sterigenics owners intentionally began moving money out of the company through the dividend recapitalizations in order to insulate their capital from potential lawsuits related to the emissions. 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. Welltower will also receive equity in the Company, increasing its stake in Genesis on a fully-diluted basis from approximately 6% to up to approximately 15%. Their properties have returned such gruesome resultspatients spending prolonged periods lying in feces have been a fixture of all threethat state health departments have been repeatedly forced to send emergency strike forces, often assisted by (as many as 40) National Guard troops, to assume temporary control. Juan Vallerino. 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. Indeed, all of the chains publicly traded landlords report it has been current on its obligations. 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. Its functions are the following, however, they are not limited to: In addition, Genesis will receive approximately an additional $170 million in debt reduction from Welltower upon the occurrence of certain conditions, including the transition of the 51 facilities. Contact and general information about Pinta Capital Partners company, headquarter location in New York, United States. Harrington is cofounder and managing partner of Pinta Capital Partners, a New York private equity firm that specializes in nursing homes and other health-care sectors. Active, Closed, This describes the type of investor this organization is (e.g. Landau didnt return a request for comment.). [xiv] Genesis operates more than 325 nursing homes and assisted-living centers in 24 states. Investment Management FREE Breaking News Alerts from StreetInsider.com! Private equity firm GTCR is creating a new platform for health care investments called Epselon Global. jul. 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. 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. 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. Full Bio. 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 Harrington is one of the founding principals of Pinta Partners and in that role is passionate about rethinking the delivery of health care to the chronically ill. Randazzo has spent more than 35 years in the health care and technology fields and brings rich experience in operational excellence, corporate finance and entrepreneurship. Managing Partner . At first, Landau told the CABS residents they were being temporarily relocated to make way for a new art therapy room he planned to build on the second floor; then gradually, the residents caught on to the fact that, as one told the citys long-term care ombudsman in a panic over the phone that summer, Theyre closing the place! 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. 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 Pinta Capital Partners is a premier healthcare private equity investment firm based in New York City that seeks to provide solutions that create lasting value. It wasnt going to be the landlords. CEO George Hager had been steadily downsizing the chain in an attempt to claw his way out of the quicksand, but there was little he could do. ShortTermRentalz reports: Vacation rental management software Hostaway has partnered with global travel technology provider Amadeus to distribute short-term In 2011, a medical-device distributor called Integra Partners sued Landau for allegedly pirating all of its proprietary legal documents and poaching its client list. In addition, the Company will receive approximately $170 million in additional debt reductions from Welltower upon the satisfaction of certain conditions, including the transitioning of all 51 facilities. Landau tapped some surprisingly prominent figures to help him seal the deal. RESPONSIBILITIES. He quickly realized the gaps in care and inefficiencies surrounding the healthcare system, most specifically in senior care. The equity firm has three key major goals: greater access for all patients, higher quality of life, and more cost-effective care. This dynamic is particularly perverse in New York, where the cost of living is steep and just about anyone over 65 can qualify for a nursing home bed if they take in less than $875 or so a month. Pinta Capital Partners. Sammy also spent several years as an investor at Irvine Company, one of the nations largest private real estate companies. Joel's interest in healthcare first began when he was helping take care of a close family member. Lean Solutions Group. Genesis will continue to operate the facilities until appropriate approvals from state regulators are completed. Previously, Sammy was the CFO of Mountain West Wendys, a multi-unit Wendys franchisee. Mr. Harrington brings 35 years of industry experience in critical areas of healthcare delivery management to the Board. 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. Founded in 2012 by successful healthcare innovators with a longstanding commitment to improving the lives of patients. Since2009, Mr. Harringtonhas advised and developed many healthcare companies in the senior care space. Andrew Cuomos liability shield into law, nursing homes are one of the lobbying worlds quiet powerhouses. Indeed, one overlooked wrinkle in the saga of the New York governors baffling decision to pour gasoline on the nursing home tragedy by forcing homes to accept COVID patients in exchange for a wrongful-death lawsuit moratorium is the role that might have been played by a longtime nursing home lobbyist named Jeffrey A. Sachs, who ran Cuomos Medicaid modernization commission in 2011, aggressively promoted Landaus $72 million nursing home flip in 2015, and happens to be the governors lifelong best friend. As CEO of American Imaging Management (AIM) from 2001 to 2008, Mr. Harrington turned around this radiology management business and increased its net worth from negative $19 million to over $310 million. 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. 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. Andrew Cuomos handling of nursing homes during the coronavirus outbreak, March 25, 2021, in New York. The purpose of the fund is to . Pinta Capital Partners Contact Information. 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. Other creatures that never made it out of intensive care . Demonstrators gather for a rally decrying New York Gov. This mortally wounded an already dying business. Pinta Capital Partners harvests advances in medicine and technology and takes a holistic approach to healthcare delivery. Get an exclusive preview of global and regional M&A activity in Q1 2023 plus in-depth market analysis. 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 Active, Closed, This describes the type of investor this organization is (e.g. Thought Leaders Everyone Is Getting Lonelier. Managing Partner. As a result, in total, Genesis expects to reduce its debt outstanding to Welltower, by approximately $256 million and extend maturity to January 1, 2024. Managing Partner David Harrington, alongside Joel Landau, founded Pinta Capital Partners in 2012 and is passionate about rethinking the delivery of healthcare to the chronically ill. David brings over 45 years of industry experience in critical areas of healthcare services management. Its boss in the 1970s was an enormously prominent Orthodox rabbi named Bernard Bergman with strong ties to Israel and then-Gov. Free and open company data on New York (US) company CITIPACE OF NEW YORK, LLC (company number 5586293), C/O PINTA CAPITAL PARTNERS, 485 MADISON AVE #202, NEW YORK, NY, 10022. Nor has Genesis been known to have defaulted on any of its credit lines, even as occupancy had plunged by 15 percent. There is no recent news or activity for this profile. Genesis was hopelessly insolvent and destined to stay that way unless someone took a haircut. States impacted by the transitionsThe 51 skilled nursing and assisted/senior living facilities leased from Welltower that will be transitioned are located in the states of Colorado (4), Connecticut (4), Delaware (3), Kentucky (5), Maryland (6), New Hampshire (3), New Jersey (17), Pennsylvania (7) and West Virginia (2). [ix], GTCR also previously owned Correct Care Solutions (CCS), a health care company operating in prisons and detention centers. Vice president at Pinta Partners New York City Metropolitan Area 940 followers 500+ connections Join to connect Pinta Capital Partners Company Website About Experienced Investment Manager. See all (2,457) RATINGS. The investment gives Pinta a 25% ownership stake with options to increase its share to 43% by April 15. Pinta Capital Partners is a premier healthcare private equity investment firm based in New York City that seeks to provide solutions that create lasting value. Here's How Entrepreneurs Are Helping to Reverse the Trend. Kent, DE; United States; Agent Name PLATINUM FILINGS LLC Agent Address 555 E. LOOCKERMAN STREET, - SUITE 120 - DOVER DE 19901 And yet as Joel Landaus buyout of the sprawling Genesis HealthCare shows, the reach and ambitions of the new nursing home Syndicate are broader than ever. 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 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. As CEO of American Imaging Management (AIM) from 2001 to 2008, Mr. Harrington turned around this radiology management business, increasing its net worth from negative $19 million to over $350 million. 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. David Harrington, alongside Joel Landau, founded Pinta Capital Partners in 2012 and is passionate about rethinking the delivery of healthcare to the chronically ill. David brings over 45 years of industry experience in critical areas of healthcare services management. 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. Pintail is a South Carolina-based, full-service commercial real estate company with national reach. In addition, Mr. Harrington has been appointed Chairman of the Board. Since 2009, when Mr. Harrington established DASH Business Group, he has advised and developed many healthcare companies in the senior care space. Weve said it before: The greatest threat to democracy from the media isnt disinformation, its the paywall. Having entered the market in the early 2000s, it now provides landline telephony, broadband and TV services . 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. But by now you should get the gist: A shadowy network of interconnected hustlers controls an ever-expanding swath of the nations elder care infrastructure, generating a steady stream of fines, penalties, and media horror stories while extracting obscene sums from public coffers. Second, Genesis entered into a definitive agreement with ReGen Healthcare, LLC (ReGen Healthcare) for a capital infusion of $50 million. Contact Information Website www.pintacapitalpartners.com Year Founded 2012 Investor Status 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. #plantersbankCRElending Im Profil von Vanessa Pinta sind 4 Jobs angegeben. 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. Welltower will also permit certain collateral to be released and utilized as collateral for new debt. There is no recent news or activity for this profile. Sammy earned his bachelors degree from Brigham Young University. Region: North America. 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