Genesis Health Ventures, Kennett Square, Pa., set Dec. 1 as the distribution date for the previously announced spinoff of its elder-care and rehabilitation businesses into a separately traded public company, Genesis HealthCare Corp. Shareholders in Genesis Health Ventures as of Oct. 15 will receive 0.5 shares of the new company's stock for each share of Genesis they own. Genesis HealthCare is expected to begin trading on the NASDAQ stock exchange Nov. 18 temporarily under the ticker symbol GHCIV and will switch to the symbol GHCI after distribution of the new company's shares. Genesis Health Ventures will continue to trade on NASDAQ, but the company expects to change its name to NeighborCare and its symbol to NCRX. -- by Julie Piotrowski
Genesis sets date to complete elder-care spinoff
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