Exhibit 99.2
For Immediate Release

Contact:  Lisa Salamon
          (610) 444-8433


                 Genesis Health Ventures Emerges from Bankruptcy

Kennett Square, PA--(Oct. 2, 2001)--Genesis Health Ventures, Inc. today
announced that it has emerged from chapter 11 protection following the
completion of its plan of reorganization and merger with the Multicare
Companies, Inc.

In conjunction with emergence, Genesis also announced that it has secured a $515
million senior secured credit facility led by First Union, Goldman Sachs and GE
Capital that will fund obligations under the plan of reorganization as well as
ongoing corporate financing needs.

"We are emerging as a stronger and re-energized Company, ready to take on the
big challenges of meeting this nation's healthcare needs for an aging
population," said Michael R. Walker, founder, chairman and CEO of Genesis.

With the exception of certain secured debt, the plan of reorganization cancels
both companies' pre-petition debt plus preferred and common stock. The plan
provides for Genesis and Multicare bank lenders to receive a combination of
cash, new debt, new convertible preferred stock, and approximately 93% of the
new common stock of Genesis. Unsecured creditors such as vendors and
subordinated bondholders will get approximately 7% of the new common stock and
warrants to purchase additional shares of new common stock. Pre-petition
preferred and common shareholders will not receive a distribution under the
plan.

The company has applied to have the new common stock listed on the Nasdaq
National Market.

Genesis and Multicare voluntarily filed for chapter 11 protection on June 22,
2000 after drastic cuts in Medicare reimbursement and continued underpayment by
most State funded Medicaid systems resulted in an inability to continue to meet
debt obligations under the companies' existing capital structures.

Genesis Health Ventures provides eldercare in the eastern US through a network
of Genesis ElderCare skilled nursing and assisted living facilities plus long
term care support services nationwide including pharmacy, medical equipment and
supplies, rehabilitation, group purchasing, consulting and facility management.

Statements made in this release, and in our other public filings and releases,
which are not historical facts contain "forward-looking" statements (as defined
in the Private Securities Litigation Reform Act of 1995) that involve risks and
uncertainties and are subject to change at any time. These forward-looking
statements may include, but are not limited to statements containing words such
as "anticipate," "believe," "plan," "estimate," "expect," "intend," "may" and
similar expressions. Factors that could cause actual results to differ
materially include, but are not limited to, the following: risks associated with
operating a business, our substantial indebtedness and significant debt service




obligations; our senior subordinated and other notes; adverse actions which may
be taken by creditors; adverse developments with respect to our liquidity or
results of operations; the effect of planned dispositions of assets; our ability
to consummate or complete development projects or to profitably operate or
successfully integrate enterprises into our other operations; our ability or
inability to secure the capital and the related cost of the capital necessary to
fund future growth; our ability to attract customers; our ability to attract and
retain key executives and other personnel; the impact of health care reform,
including the Medicare Prospective Payment System ("PPS"), the Balanced Budget
Refinement Act ("BBRA") and the Benefit Improvement and Protection Act of 2000
("BIPA") and the adoption of cost containment measures by the federal and state
governments; the impact of government regulation, including our ability to
operate in a heavily regulated environment and to satisfy regulatory
authorities; the occurrence of changes in the mix of payment sources utilized by
customers to pay for services; the adoption of cost containment measures by
other third party payors; competition in our industry; and changes in general
economic conditions.

The forward-looking statements involve known and unknown risks, uncertainties
and other factors that are, in some cases, beyond our control. We caution
investors that any forward-looking statements made by us are not guarantees of
future performance. We disclaim any obligation to update any such factors or to
announce publicly the results of any revisions to any of the forward-looking
statements to reflect future events or developments.


                                      # # #