The Multicare Companies

The Multicare Companies was a prominent American provider of long-term healthcare services, specializing in the operation of skilled nursing facilities and assisted living centers. Founded in 1988 and based in Hackensack, New Jersey, the company grew rapidly through acquisitions to become a major player in the subacute care and geriatric rehabilitation markets. It went public on the New York Stock Exchange in 1993 under the symbol MUL. In 1997, the company was acquired by Genesis Health Ventures in a deal valued at approximately $1.06 billion. This acquisition significantly expanded Genesis's reach in the eldercare sector, integrating Multicare's extensive network of facilities across several states.