Exhibit 99.1

FOR IMMEDIATE RELEASE

CONTACT:          George V. Hager, Jr.
                  Executive Vice President & Chief Financial Officer
                  (610) 444-6350



Genesis Chairman Relinquishes CEO Responsibilities to Pursue Industry Advocacy


KENNETT SQUARE, PA -- (May 28, 2002) - The Board of Directors announced today
that following discussions with the Board, Michael R. Walker has resigned as
Chief Executive Officer of Genesis Health Ventures, Inc. This step allows Mr.
Walker to dedicate his full-time efforts to solving the funding issues facing
the long-term care industry. For the past four years, he has served both as
Genesis Chairman and CEO, as well as Chairman of The Alliance for Quality
Nursing Home Care, a professional association formed to lobby for the long-term
care industry. Effective immediately, he will concentrate fully on his Alliance
responsibilities.

"There is no bigger challenge facing us than the need to secure adequate
funding," says Walker. "The remaining Medicare cliff representing a potential
reduction of $30 per patient day is only four months away, and this is a
critical issue for Genesis and the industry. The Board and I agreed that the
best thing I could do was to devote full-time efforts to securing adequate
funding for the care of the nation's elders."

The Board also has appointed Board member Robert H. Fish as interim CEO. Fish is
a partner of Sonoma-Seacrest, LLC, a California-based healthcare consulting
practice specializing in strategy, development and project implementation. For
over 25 years he served as a healthcare executive, most recently as President
and Chief Executive Officer of St. Joseph Health System and President and Chief
Executive Officer of ValleyCare Health System, both located in Northern
California.

"Michael Walker is in a unique position to be our industry's most effective
champion for this cause," comments Robert Fish. "He has been a leader in the
industry not only as founder of Genesis but as the chair of the Alliance since
its inception nearly four years ago, and his involvement with the LTC Pharmacy
Alliance, which he co-founded two years ago. There is no one who is more
knowledgeable or has spent as much time working on these issues in Washington,
and this move frees him up to devote his full efforts to the critically
important work of the Alliance."


Mr. Walker will continue as Chairman of Genesis until the end of the year and a
search currently is underway for a permanent Chief Executive Officer.

Genesis Health Ventures (GHVI) 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 therapy, group purchasing, hospitality,
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: changes in the
reimbursement rates or methods of payment from Medicare or Medicaid, or the
implementation of other measures to reduce reimbursement for our services;
changes in pharmacy legislation and payment formulas; the expiration of
enactments providing for additional government funding; efforts of third party
payors to control costs; the impact of federal and state regulations; changes in
payor mix and payment methodologies; further consolidation of managed care
organizations and other third party payors; competition in our business;
litigation regarding our NeighborCare pharmacy operations' provision of service
to HCR Manor Care; an increase in insurance costs and potential liability for
losses not covered by, or in excess of, our insurance; competition for qualified
staff in the healthcare industry; our ability to control operating costs, return
to profitability and generate sufficient cash flow to meet operational and
financial requirements; and an economic downturn or changes in the laws
affecting our business in those markets in which we operate.

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.

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