GENESIS HEALTHCARE SHAREHOLDERS APPROVE MERGER AGREEMENT WITH FORMATION CAPITAL AND JER PARTNERS

Exhibit 99.1

FOR IMMEDIATE RELEASE

GENESIS HEALTHCARE SHAREHOLDERS APPROVE
MERGER AGREEMENT WITH FORMATION CAPITAL AND JER PARTNERS

KENNETT SQUARE, PA – May 30, 2007 – Genesis HealthCare Corporation (“GHC” or “Genesis”) (NASDAQ: GHCI) today announced that, at the Company’s reconvened annual meeting, Genesis shareholders approved the amended merger agreement between Genesis and a venture between affiliates of Formation Capital, LLC (“Formation”) and JER Partners (“JER”).

On May 19, 2007, Genesis announced that it had amended its merger agreement with a venture between affiliates of Formation and JER to increase the consideration payable to Genesis shareholders to $69.35 per share in cash. Under the amended agreement, if the transaction is not completed prior to July 31, 2007, the purchase price will increase by approximately 9% per annum, or $0.01710 per day, from July 31, 2007 through August 31, 2007, and by approximately 10% per annum, or $0.01900 per day, from September 1, 2007 until the transaction closes.

The transaction remains subject to receipt of certain regulatory approvals and other customary closing conditions. Genesis