Kenny Rozenberg (LinkedIn)
Kenny Rozenberg, co-founder of the American nursing home company Centers Health Care, has agreed to sell a subsidiary specializing in nursing care for an estimated value of up to $1 billion, reported Israeli business publication Calcalist. Centers Health Care, which owned a controlling stake in Israel’s national airline El Al, is set to unload Centers Plan for Healthy Living (CPHL), a managed care organization.
CPHL, the leading player in the field with 57,000 clients, holds a significant contract with the state of New York valued at $16 billion for service provision spanning 2022-2026. Alvans Health’s subsidiary, also operating in this sector, follows as the second-largest with 53,000 patients and a contract worth $13 billion for the same timeframe. Following the acquisition, Alvance Health will experience a decline of 38% in its Medicaid patient market share within New York State. Alvance, a prominent U.S. company listed among the Fortune 500, entered the home care industry approximately three years ago through the acquisition of Integra.
Kenny Rozenberg is a well-known figure in the healthcare industry, particularly in the United States. He is the Founder and Chief Executive Officer of Centers Health Care, a leading provider of post-acute care services. Under Rozenberg’s leadership, Centers Health Care has grown into one of the largest and most comprehensive post-acute health care providers in the Northeast. The company offers a wide range of services, including skilled nursing care, rehabilitation, and assisted living.
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Rozenberg has been recognized for his contributions to the healthcare industry. He has received numerous awards and accolades for his innovative approach to providing quality care. Beyond his professional endeavors, Kenny Rozenberg is also involved in philanthropic activities. He has supported various charitable causes, including those related to healthcare and education.
Kenny Rozenberg acquired controlling interest in El Al in 2020 through a stock offering, a move that effectively rescued the airline from collapse following the COVID-19 crisis. His total investment to date is estimated at approximately $220 million, including additional options he holds. Since October 7, 2023, El Al’s market value has surged by over 110%, driven by the suspension of flights by international airlines. As a result, the value of Rosenberg’s shares currently stands at around $400 million. Due to the suspension of flights, El Al’s market share on the most direct routes to North America has increased to approximately 90%, leading to record-breaking results. In the three quarters since the outbreak of the war – from the fourth quarter of 2023 to the second quarter of 2024 – the company reported a net profit of $266 million, a stark contrast to the $650 million loss incurred over the previous ten years.
