Technology and service organization that partners with PACE programs. Pinta Partners. 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 for our investors and the healthcare. Pinta has appointed two new directors to the Genesiss board including David Harrington, a founding principal at Pinta. 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. 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. Read More Contact Who is Pinta Partners Headquarters 755 2nd Ave Fl 2, New York City, New York, 10017, United States Phone Number (212) 740-6700 Website www.pintacapitalpartners.com Revenue 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. Pinta Partners LLC. Mr. Randazzo has served as a senior advisor to global private equity firm, Warburg Pincus, for over 20 years. 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. Prior to the COVID-19 pandemic, these 51 facilities generated on a combined basis approximate annual net revenue of $640 million. are conspicuously pious men who are implicitly trusted by large swaths of other pious people, and neither politicians nor nursing assistants are entirely comfortable calling into question the foundation of that trust because they know how easily it can be weaponized against them. Mr. Randazzo previously co-founded and led one of the nations largest independent urgent care companies, FastMed. 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. Region: North America. Revenue. All content 2023 Private Equity Stakeholder Project PESP. And then, quite suddenly around December, circumstances at Genesis changed quickly and dramatically in an unanticipated manner, according to a cryptic letter one of the companys lawyers wrote in response to an inquiry from Sen. Elizabeth Warren (D-MA), who wanted to know why she had read in The Washington Post that the company had decided to award Hager a $5.2 million bonus, only to fire him. Pinta Capital. He founded and is the Chairman of The Allure Group, a Brooklyn-based chain of Advanced Recovery Centers that specializes in subacute rehabilitation, skilled nursing care, and long-term placement. [viii], Warburg Pincus and GTCR took Sterigenics public in November 2020 but have retained a controlling stake in the company. Maureen Tkacik is a senior fellow at the American Economic Liberties Project. 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. 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. Pinta Capital Partners is a private equity investment firm that invests in health care and provides financial solutions. 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. PINTA CAPITAL PARTNERS LLC Company Number 6835370 Incorporation Date 3 June 2022 (9 months ago) Company Type Domestic Limited Liability Company Jurisdiction Delaware (US) Registered Address. Lean Solutions Group. 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. While most academic studies of private equity in health care have shown only small cuts in the nursing payroll, those numbers tend to count hours worked by administrative staff located hundreds of miles away, as a recent New York Times database investigation showed. Thank you! 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 Then came COVID, which a Genesis nursing assistant in New Jersey likened to being led to slaughter. Dozens of Genesis nursing homes became mass casualty events. Popular Searches. Main Address: C/O PINTA CAPITAL PARTNERS, 485 MADISON AVE #202, NEW YORK, NY, 10022 Other Information Process: CITIPACE HOLDING COMPANY, LLC Address: C/O PINTA CAPITAL PARTNERS, 485 MADISON AVE #202, NEW YORK, NY, 10022 UST SELECT, INC. EEZEEBIZ GROUP INTERNATIONAL INC This is not the official website of this company. 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. In light of the growing investor interest in health care and the risks associated with private equity ownership of health care companies, the Private Equity Stakeholder Project will be tracking private equity-backed health care acquisitions. Contact Information Website www.pintacapitalpartners.com Year Founded 2012 Investor Status PE firms also sometimes sell off nursing homes' property, saddling providers with lease payments. 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. The ouster puzzled some analysts, according to The Wall Street Journal, noting DeRosas recent pledge to invest in more affordable senior housing. 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. Andrew Cuomos handling of nursing homes during the coronavirus outbreak, March 25, 2021, in New York. 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. Its functions are the following, however, they are not limited to: 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. 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. 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 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. ReGen Healthcare also has the option to make an additional debt investment of $25 million exercisable no later than March 31, 2021 and to be funded by April 15, 2021. CEO George Hager told analysts a restructuring was all but certain in August, and reiterated those sentiments throughout the fall. From this perch, Landau has launched shell companies and middlemen across the health care space, from medical supplies to home health care to Medicaid managed services. 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. The equity firm has three key major goals: greater access for all patients, higher quality of life, and more cost-effective care. 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. Harrington is also a founding principal of Pinta Capital Partners, an investment firm affiliated with ReGen. Bogot, Distrito Capital, Colombia. (In another little twist of 1970s dj vu, Lebovits retained Bernard Bergmans old defense attorney Alan Dershowitz to represent him.) We commit capital across the lifecycle of companies from seed stage through buyout. What we do know is that a few weeks after Hagers pre-bankruptcy comments, Genesiss biggest landlord, Welltower, suddenly sacked its CEO Tom DeRosa, who had become the nursing home industrys highest-profile critic of private equity in the aftermath of the 2018 bankruptcy of Carlyle-raided HCR ManorCare. 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. Joel Landau. In 2013, he bid $20.6 million and won, on the strength of his managed-care organization, his promise to lure in new business from the surrounding Hasidic community, and most of all, the ardor with which he emphatically promised the owners that nothing about the operation would change. Joel also shares his expertise and experience through several board of director positions and supports several non-profit initiatives through his philanthropy and time. Medicare plan specifically designed for beneficiaries living in SNFs for 90+ days. Tech-enabled pharmaceutical rebate management solution. In February 2015, the sale closed and Landau had a year to kill before he could officially flip the property without paying an extra $17 million in taxes. 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. 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. 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 Landau is also the co-founder and managing director of Pinta Capital Partners. The charter, planning and strategy to achieve the . A former doctor at CABS claimed the scorched-earth evictions caused multiple deaths. This is a profile preview from the PitchBook Platform. Si t'animes a conixer la ciutat ms gran de l'Equador, no te'n penedirs! 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. All rights reserved. Learn how to leverage transparent company data at scale. After the changes, Genesis was no longer a publicly traded firm. 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. 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. 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. The nursing home business is literally crawling with guys like Landau, many of whom are in turn linked to either Landau or his partners. Mr. Harrington brings 35 years of industry experience in critical areas of healthcare delivery management to the Board. Prospective investors in Israel were none the wiser. By October 2014, Landau had bought the building for $28 million, at which point he set about lobbying city officials to remove the deed restriction anyway, for flexibilitys sake. Worse, she told me, the kitchen never had snacks, not even Saltines. ReGen is affiliated with Pinta Capital Partners, a private equity firm founded by Allure Group owner Joel Landau. Private equity firm GTCR is creating a new platform for health care investments called Epselon Global. Thats likely because Genesis wasnt really in control of its finances. Leaders. Whatever his intentions for the Genesis homes, its safe to say they cant be good. Pinta has appointed two new directors to the Genesis's board including David Harrington, a founding principal at Pinta. GTCR is a prolific health care investor, with at least 11 current health care portfolio companies and almost 50 past investments. Demonstrators gather for a rally decrying New York Gov. Our portfolio of companies | Waud Capital Partners Our portfolio of companies We build our portfolio carefully and deliberately, partnering with firms shaping the future of healthcare and building mission-critical software solutions. 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. Active, Closed, This describes the type of investor this organization is (e.g. VillageCare, whose board was chaired by a recently retired chief financial officer of Morgan Stanley, had assembled a blue-chip advocacy team (including New York mega-lobbyist James Capalino and Andrew Cuomos best friend Jeffrey A. Sachs) to petition officials to lift the deed restriction so the nonprofit could sell the property to pay off some of its debts, which the Bloomberg administration agreed to do only if VillageCare coughed up $8.825 million it did not want to pay. This firm seeks ventures that serve New York City's neediest populations, including the chronically ill, the elderly, and the disabled. Founded in 2012 by successful healthcare innovators with a longstanding commitment to improving the lives of patients. In August 2007, AIM was sold to WellPoint for $307 million. Sehen Sie sich das Profil von Vanessa Pinta im grten Business-Netzwerk der Welt an. 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. View contacts for Pinta Capital Partners to access new leads and connect with decision-makers. 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. Get the full list, Morningstar Institutional Equity Research. Edit Lists Featuring This Company Section, Greater New York Area Venture Capital Investors. Sammy earned his bachelors degree from Brigham Young University. Penta Capital invested in TalkTalk in March 2021 alongside Toscafund, the London-based multi-asset investment management firm, via a 1.1 billion public-to-private deal. Ready to connect with Shore? This transaction will result in the reduction of $79 million in annual cash lease expenses. A proposal has been put forward by Mantle Core on BitDAO's governance forum to establish a $200 million fund that will support early-stage Web3 startups. Additionally, the Company has agreed and intends to deregister its Common Stock under the Exchange Act and suspend its public reporting obligations. 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 companys domain name until 2017. 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. In the past he. He has held executive positions at Aetna and Anthem. 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. Pinta Capital Partners, INC. Mission Companies Team Contact Empower the Industry At-home healthcare designed to prevent unnecessary emergency room visits. [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. Joels interest in healthcare first began when he was helping take care of a close family member. [iv], GTCR has owned Sterigenics since 2011. 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. At-home healthcare designed to prevent unnecessary emergency room visits. Youre viewing 5 of 14 investments. 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. Starting around 2000, many corporate nursing home chains became a powerful lure for private equity. Since2009, Mr. Harringtonhas advised and developed many healthcare companies in the senior care space. The Allure Group caters to the unique needs of the community in which it serves, reflecting Joels commitment to a holistic approach to the business of healthcare. And yet over the medium to long term, no regulatory agency or politician has even approached holding anyone accountable for any of the asset-stripping or cash-extracting that begat the staff-slashing and PPE-depriving that caused so much senseless and unnecessary death during the pandemic. After living for half a century as his species' sole survivor, a 75-kilogramme (165-pound) male known as Lonesome George died in 2012. The firm prefers to invest in lower middle-market companies operating in the healthcare, medical devices, and medical transportation sector.
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