The company that would one day become Genesis HealthCare was founded four decades ago this year. By 2015, it became one of the largest post-acute care providers in the country with more than 500 skilled nursing centers across 34 states, according to its website.
But as the health care chain quickly expanded, it also faced more complicated industry regulations and requirements and fewer profits, investors and owners said in court documents. Those hurdles were then compounded by challenges during the COVID-19 pandemic.
“The…