Senior Care Development
David started his business career in his family's neckwear manufacturing business.
He was, alas, destined to be the third and last generation Reis in the business. At the age of 28
and with $25,000 cash in the bank David decided to leave the family business and start a real estate
development company specializing in seniors housing.
Thirty years later, as a nationally known expert in the senior housing field, David has
developed, and/or has purchased, distressed Continuing Care Retirement Communities
(CCRC's), also known as Life Plan Communities, in excess of a billion dollars. David has also
developed retirement-oriented projects that span the continuum of care from independent living
to assisted living to nursing homes. The growth of David's organization has not changed his
essential business philosophy: a focus on a select few projects under development at any one
time, and a dedication to quality.
As the Managing Member of his affiliated company (Senior Care Holdings, LLC), David
was one of a handful of investors who came together to purchase approximately 175 nursing
homes across 19 states, which were subsequently sold to G.E. Capital in 2006. Following that, in
2007, an affiliate of Senior Care Holdings invested in a deal to take Genesis Healthcare
Corporation private for $1.4 billion. Genesis owned or managed over 210 nursing/assisted living
facilities concentrated primarily in the Northeast. In 2011, the investment group sold Genesis
Healthcare's real estate holdings to Health Care REIT (now known as Welltower) while retaining
the operating company, which, along with its subsequent acquisition of Sun Health Care, was
generating approximately $4.6 billion in annual revenue. David became a member of the newly
reconstituted Board of Directors and chaired its compensation committee for several years. In
February of 2015, David and his fellow investors brought about the culmination of the Genesis
growth strategy by combining it with Skilled Healthcare Group, Inc. to create one of the largest
post-acute care providers in the country, with management services and/or ownership of more
than 500 skilled nursing and assisted/senior living communities in 34 states, and more than 1,800
rehabilitation therapy centers in 47 states. The new company employs nearly 95,000 people and
has combined yearly revenue of approx. $5.0 billion dollars. David was a member of the board
of Genesis Health Care until June 2019.
Along with helping to engineer the highly successful evolution of Genesis Health Care,
David's related entities have held investments in companies that operate upwards of 140 nursing
homes providing care for some 15,000 seniors in 9 states from Maine to Florida.
David has participated on many non-profit Boards over the years including: Trustee of
his alma-mater Hampshire College, Executive Board Member and Chair of the Building
Committee for Solomon Schechter School of Westchester where he oversaw the land selection,
entitlements, and construction of both a middle school and high school; as well as being a Board
member of The Windward School where he also chaired the Building Committee and the
construction of a middle school renovation project. David currently is a member of the Executive
Committee of Maine Coast Heritage Trust (www.MCHT.org) the largest land trust in the State of
Maine where David spends many a summer.