Coronavirus pandemic puts private-equity ownership of nursing homes under microscope [MarketWatch]
Gen Digital Inc. (GEN)
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Source: MarketWatch
Coronavirus pandemic puts private-equity ownership of nursing homes under microscope It’s a Thursday morning in San Francisco, the day after the World Health Organization declared the coronavirus a pandemic, and Ronald Silva hasn’t slept for days, “if not a week,” he says. Silva is the president and CEO of private-equity firm Fillmore Capital Partners and chairman of the board of the nursing-home chain Golden Living Centers. He’s been up early calling his managers and nurses, he says, “cheering them on.” His facilities still don’t have COVID-19 testing kits, he says, but they have been screening vendors and staff for signs of infection. And the company is trying to boost nurses’ morale during the outbreak, he says, by having T-shirts made for them, emblazoned with the slogan “The Bitches Ride at Dawn.” His nursing staff came up with the slogan, he says. “It might offend a couple people, but so what?” The fact that private-equity executives like Silva can play a pivotal role in nursing
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