Monday, January 25, 2021

Thousands died at a nursing home chain. Its CEO got a $5 million bonus


By Kate Gibson
January 25, 2021 / 12:42 PM / MoneyWatch

As COVID-19 took a deadly toll among residents of Genesis Healthcare facilities, the financially troubled company gave CEO George Hager Jr. a $5.2 million "retention payment."

At the helm of the large U.S. nursing home chain during a pandemic that has killed more than 1,500 of its residents and threatens to push it into bankruptcy, Hager received the bonus in late October. He then resigned from the for-profit company, where he had served as chief executive for 17 years, less than three months later, earlier this month.


The toll at Genesis reportedly nearly doubled in the second half of 2020, with 14,352 confirmed cases among its residents and 2,812 deaths as of December 20, according to the Washington Post. An analysis of Medicare data by the news outlet found almost all of Genesis' nursing homes running short on personal protective equipment up until late November, after the company's board had signed off on Hager's bonus.


With Hager continuing as a consultant, board chairman Robert Fish has taken over as Genesis CEO.

1 comment:

rjs said...

most states enacted liability shields for nursing homes, so why should they care if residents die if it doesn't affect their bottom line?

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