In September 2012, Genesis HealthCare initiated a major restructuring driven by private equity owners Formation Capital and JER Partners, including a $2.4 billion sale-leaseback deal with Health Care REIT. This strategy, involving a merger with Skilled Healthcare Group, saddled the company with long-term "triple-net" leases and reduced financial resources, which critics and analysts link to its eventual 2025 bankruptcy. Read the analysis of the private equity impact at Yahoo Finance . Genesis Healthcare files for bankruptcy