Genesis' chairman named a repeat winner by The Wall Street Transcript.

KENNETT SQUARE, Pa.--(HealthWire)--Sept. 16, 1996--For the second consecutive year, the chairman and chief executive officer of Genesis Health Ventures Inc., Michael R. Walker, has been honored by The Wall Street Transcript.

As the recipient of the Silver Award announced in today's edition, Walker was recognized for his leadership in implementing a managed care strategy for eldercare while simultaneously increasing shareholder value. The judges based their decision on the recommendations of leading financial analysts, money managers, industry competitors and trade journalists.

In part, The Award states, "This company's accomplishments have been exceptional, judged on any criteria used to measure success in this industry. Cited for truly dynamic leadership, the CEO has been the architect of a strategy envisioning the social, demographic, and economic trends that are shaping the future of health care. The essential premise is to develop an organization with comprehensive experience and expertise, an organization fully equipped to provide an array of basic and specialty services to the elderly. While building critical mass has certainly been a primary goal, establishing the highest standards for quality and efficiency has been the first priority."

Walker's insight and conviction have distinguished Genesis Health Ventures as the authority in its field. Another contributor adds, "Genesis has called the shots," maintains a specialist.

"He's a visionary of long term care in terms of how he's positioning Genesis. He views this not so much as long-term care but basically as selling health care to the elderly population. He has tried to build an integrated network to position this company for the growth of the managed care sector. He's starting to form strategic alliances with hospitals and other nursing home companies. And, he is an innovator in this business."

Genesis Health Ventures first began trading publicly in 1991. Since that time, there have been seven public sales of stock and debt securities totaling more than $545 million in raised capital. In February of this year, the company's board of directors approved a 3/2 stock split, and Genesis consolidated its operations under a new brand name, Genesis ElderCare(sm).

1996 has been a year of strategic growth for Genesis. The company recently announced it will acquire a 10% purchase interest in Doctors Health System, Maryland's largest independent physician- owned integrated delivery system.

Genesis Health Ventures is a leader in the healthcare industry and was founded in 1985 to redefine how America cares for the elderly, using a coordinated, comprehensive approach that helps older adults define and live a full life. The company has established Genesis ElderCare(sm) Networks in five major metropolitan markets in the Eastern United States and currently serves more than 70,000 customers.

CONTACT: Genesis Health Ventures, Kennett Square

Connie Wragge, 610/444-7033