Genesis HealthCare (OTCMKTS:GENN) Stock Continues to Trend Lower: Now What?

National post-acute care provider, Genesis HealthCare (OTCMKTS:GENN) on 2nd August, 2021 announced adoption of universal COVID-19 vaccination requirement for care partners, employees and onsite vendors across the Company.

Factors like underlying conditions and age pose great risk of illness if they contract Covid-19 but the threat can be reduced through vaccination. The firm’s Universal Vaccination Policy entails visiting providers, current staff, care partners as well as onsite vendors to take single dose of Janssen vaccine by August 23, 2021.

Harry Wilson, Chief Executive Officer of Genesis, said that the company’s priority is to have relentless focus on serving residents and patients with care and safety. Wilson added that the universal vaccination is a vital decision and the company looked at pros and cons.

Genesis HealthCare is a holding company that provide services to skilled nursing facilities and senior living communities.  The growing spread of Delta variant has shown clarity on the need for augmenting substantial vaccination rates. Wilson added that the firm would prefer a strict voluntary process even as the firm is committed to safety and health concerns.

The firm encouraged vaccination among staff and its families to achieve above average vaccination, with 85% of patients and residents and 65% of staff choosing to get the COVID-19 vaccine companywide.

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