Harrington is one of the founding principals of Pinta Partners and in that role is passionate about rethinking the delivery of health care to the chronically ill. Randazzo has spent more than 35 years in the health care and technology fields and brings rich experience in operational excellence, corporate finance and entrepreneurship. In 2017, a San Francisco rabbi also named Joel Landau realized the nursing home grifter Landau had been using his head shot and biography on op-eds in The Times of Israel and a Twitter page used to promote his Allure Group nursing home chain. Frequent GTCR partners Michael Mulhern and Phil Macnabb will co-invest and lead Epselon. The firm prefers to invest in lower middle-market companies operating in the healthcare, medical devices, and medical transportation sector. But by now you should get the gist: A shadowy network of interconnected hustlers controls an ever-expanding swath of the nations elder care infrastructure, generating a steady stream of fines, penalties, and media horror stories while extracting obscene sums from public coffers. Pinta Partners. #plantersbankCRElending He is also Managing Partner. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Mr. Randazzo has served as a senior advisor to global private equity firm, Warburg Pincus, for over 20 years. In light of the growing investor interest in health care and the risks associated with private equity ownership of health care companies, the Private Equity Stakeholder Project will be tracking private equity-backed health care acquisitions. Thought Leaders Everyone Is Getting Lonelier. Address: 755 Second Avenue New York NY 10017 United States. Lisateavet selle kohta, kuidas me teie teavet kasutame, leiate meie privaatsuspoliitikast ja kpsiste kasutamise phimtetest. The nursing home business is literally crawling with guys like Landau, many of whom are in turn linked to either Landau or his partners. The purpose of the fund is to . Im Profil von Vanessa Pinta sind 4 Jobs angegeben. Theyre closing the place! One of the last patients at Rivington House, a skeletal cancer patient with AIDS and pneumonia, was discharged to a fifth-floor walk-up in such a frail state he literally had to crawl up the stairs to reach it. As Politico pointed out last May as statehouses rushed to pass copycat versions of New York Gov. Its functions are the following, however, they are not limited to: The Company expects to file its 2020 Form 10-K by March 16, 2021, but it will not distribute a Q4 2020 earnings release or host a conference call. Joel Landau founded Pinta Capital Partners in 2012, a private equity firm that partners with healthcare leaders and operators to drive value and help businesses achieve their full potential. Kent, DE; United States; Agent Name PLATINUM FILINGS LLC Agent Address 555 E. LOOCKERMAN STREET, - SUITE 120 - DOVER DE 19901 Pinta Partners are creating synergies within healthcare to enhance care for the elderly. Region: North America. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. [ix], GTCR also previously owned Correct Care Solutions (CCS), a health care company operating in prisons and detention centers. VillageCare, whose board was chaired by a recently retired chief financial officer of Morgan Stanley, had assembled a blue-chip advocacy team (including New York mega-lobbyist James Capalino and Andrew Cuomos best friend Jeffrey A. Sachs) to petition officials to lift the deed restriction so the nonprofit could sell the property to pay off some of its debts, which the Bloomberg administration agreed to do only if VillageCare coughed up $8.825 million it did not want to pay. All content 2023 Private Equity Stakeholder Project PESP. Oma valikuid saate igal ajal muuta privaatsusseadete kaudu. VillageCare had purchased Rivington House from the city in 1992, but it had only paid $1.5 million, while the city spent $70 million converting the former school into a nonprofit health care facility that was now half-empty in exchange for imposing a restriction on the deed requiring the property to maintain operation in that form. Across the river, Landau was making the same pitch to VillageCare, the AIDS charity that owned Rivington House, one of those New York prestige nonprofits that grosses hundreds of millions of dollars in annual revenue and drew most of its board members from Wall Street, real estate, and New York University. No matter what, the deals outcome was likely to involve some variety of shitstorm, since Rivington House employed 231 unionized workers and the new mayor Bill de Blasio had built his campaign platform largely around halting the citys relentless luxury condofication; city officials held no fewer than 48 meetings on the fate of the building. One home was so filthy a health inspectors shoe slipped off when it got stuck to the floor, and another was so understaffed a resident had died from an untreated urinary tract infection, a telltale sign of severe neglect. Main Address: C/O PINTA CAPITAL PARTNERS, 485 MADISON AVE #202, NEW YORK, NY, 10022 Other Information Process: CITIPACE HOLDING COMPANY, LLC Address: C/O PINTA CAPITAL PARTNERS, 485 MADISON AVE #202, NEW YORK, NY, 10022 UST SELECT, INC. EEZEEBIZ GROUP INTERNATIONAL INC This is not the official website of this company. Gloria Duquette, who works as a nursing assistant at three Connecticut nursing homes including Kimberly Hall, told me recently that while her other two nursing homes drastically changed procedures after the spring, Genesis could not even be moved to pay for separate equipment for checking residents vitals, so they were hauling the same blood pressure machines between the COVID ward and the rest of the facility. Three other nursing home chainsJoshua Farkovits and Ephraim Mordy Lahaskys Long Islandbased Comprehensive Healthcare Management, Simcha Hymans Englewood Cliffsbased Portopiccolo Group, and Louis Schwartzs erstwhile Central New Jersey pizzeriabased Skyline Healthcarehave emerged from nowhere over the past six years to acquire hundreds of (often formerly private equityowned) nursing homes. THE RIVINGTON HOUSE DEBACLE fits into a larger pattern whereby the private sector and the government haggle with one another by taking turns screwing over the elderly, in the apparent hope that their loved ones will be terrified into paying ever higher prices to keep them out of the system. Vice president at Pinta Partners New York City Metropolitan Area 940 followers 500+ connections Join to connect Pinta Capital Partners Company Website About Experienced Investment Manager. PINTA CAPITAL PARTNERS LLC Company Number 6835370 Incorporation Date 3 June 2022 (9 months ago) Company Type Domestic Limited Liability Company Jurisdiction Delaware (US) Registered Address. Currently, Genesis is also indebted to Welltower in an approximate amount of $423 million. By the fall of 2015, both Rivington House and CABS had been emptied of their elderly. Slowly, Landau began recasting himself as a thought leader, writing benign op-eds on aging and disruptive health care technologies on LinkedIn and other outlets to detract from the media attention. Private equity acquisitions are typically funded with borrowed money, creating debt that is subsequently transferred onto nursing homes' balance sheets. Bergman was brought to trial, sentenced to (admittedly, just a year in) prison, and ultimately exiled to Israel. As CEO of American Imaging Management (AIM) from 2001 to 2008, Mr. Harrington turned around this radiology management business and increased its net worth from negative $19 million to over $310 million. Pinta Capital Partners harvests advances in medicine and technology and takes a holistic approach to healthcare delivery. The citys Department of Investigation, Comptrollers Office, and state attorney general launched investigations into Landau and halted the sale of CABS and a Harlem nursing home Landau was about to buy. Genesiss private equity parent was called Formation Capital, and by the time the company went back into the public markets in 2014, it was paying more than $750 million a year on interest, rent, and transaction fees related to the constant cash-juggling involved in keeping the whole mess afloat, and was paying interest rates as high as 22.2 percent on some of its credit lines. Sammy earned his bachelors degree from Brigham Young University. [xiv] Genesis operates more than 325 nursing homes and assisted-living centers in 24 states. The ouster puzzled some analysts, according to The Wall Street Journal, noting DeRosas recent pledge to invest in more affordable senior housing. Reports on the abuses within his homes drew condemnations from the Synagogue Council and the Federation of Jewish Philanthropies and even briefly made him a pariah in Israel, where Orthodox youth leaders called for his ouster from the leadership of the Mizrachi movement. 2023 PitchBook. are conspicuously pious men who are implicitly trusted by large swaths of other pious people, and neither politicians nor nursing assistants are entirely comfortable calling into question the foundation of that trust because they know how easily it can be weaponized against them. ShortTermRentalz reports: Vacation rental management software Hostaway has partnered with global travel technology provider Amadeus to distribute short-term Additionally, the Company has agreed and intends to deregister its Common Stock under the Exchange Act and suspend its public reporting obligations. Genesis HealthCare and its 350 facilities are now in the hands of a documented serial liar with a history of conning his way into nursing home takeovers, then evicting the patients and flipping the real estate to luxury condo developers. Find More Contacts for Pinta Capital Partners, Edit Lists Featuring This Company Section, New York Companies With Fewer Than 50 Employees (Top 10K), Greater New York Area Companies With Fewer Than 50 Employees (Top 10K). Sammys investment banking career included roles at Raymond James, Orix Real Estate Capital, and Wells Fargo Securities where he worked with healthcare services companies and healthcare-focused private equity firms. CEO George Hager had been steadily downsizing the chain in an attempt to claw his way out of the quicksand, but there was little he could do. He is currently Executive Chairman of Waters Edge Dermatology, one of the largest dermatology practices in the country, and Executive Chairman of Sentry Data Systems, a provider of pharmacy technology solutions to hospitals. In return, Genesis will receive approximately $86 million, which it will use to repay a portion of its debt obligations to Welltower. And yet over the medium to long term, no regulatory agency or politician has even approached holding anyone accountable for any of the asset-stripping or cash-extracting that begat the staff-slashing and PPE-depriving that caused so much senseless and unnecessary death during the pandemic. One of these affiliates, Pinta Capital Partners, has invested widely in innovative services for the chronically ill and applied new practices in services to one of the neediest, frailest and most. Total number of Crunchbase contacts associated with this organization, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. In addition, at the closing of the second investment, ReGen Healthcare would be issued a warrant, exercisable for equity, which, together with the two debt investments, would represent an ownership interest of approximately 43% of the Companys subsidiaries on a fully-diluted basis. Pinta Capital Partners Feb 2022 - Present 1 year 1 month. Contact Us. So he bided his time attempting to negotiate down the price of lifting the deed restriction, while instructing an associate not to buy any computers for the nursing home because maybe we dont need to open. In May, he finally agreed to fork over the $16.15 million, and signed the papers to sell the property to a luxury condo developer two weeks later. 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