Exhibit 99.1

CONTACT: Lisa Salamon, Media Relations
         610-444-8344
         Investor Relations
         888-295-8621


                 MULTICARE BEGINS DEBT RESTRUCTURING DISCUSSIONS

KENNETT SQUARE, PA, March 21, 2000 --- The Multicare Companies, Inc. announced
today that it has begun discussions with lenders under its Senior Credit
Agreement to revise the company's capital structure.

Multicare reported it does not expect to make scheduled interest and principal
payments under its Senior Credit Agreement led by Mellon Bank, Citibank, Bank of
America, and First Union or interest payments on subordinated debt during the
discussion period. Multicare has requested a grace period while discussions on
an overall restructuring take place. The company's next senior bank debt payment
is scheduled for March 29.

Multicare reported its ability to make scheduled interest and principal payments
has been adversely impacted by an indefinite delay in asset sales due to a lack
of available financing in the long term care market coupled with the continuing
effect of reduced Medicare payments.

Multicare has retained Donaldson Lufkin & Jenrette to develop a plan to revise
the company's capital structure. As of December 31, 1999, Multicare had a total
of $774 million in indebtedness outstanding. The company does not expect that
the debt restructuring will adversely affect its day-to-day operations or impact
its ability to provide high-quality eldercare services

Separately, Multicare's 43.6 percent owner, Genesis Health Ventures, Inc., also
announced it has begun discussions with its senior bank lenders and does not
expect to make scheduled interest and principal payments on its senior debt or
interest payments on subordinated debt.

Multicare is a leading provider of skilled nursing and assisted living services
in the Eastern and Midwestern US.

Statements in this press release which are not historical facts, including
statements regarding the Company's ability to generate liquidity, restructure
debt, revise its capital structure and sell assets are forward-looking
statements. The Company cautions investors that any forward-looking statements
made by the Company involve risks and uncertainties and are not guarantees of
future performance. Numerous factors exist which, in some cases have affected,
and, in the future, could cause results to differ materially from these
expectations, including the Company's substantial indebtedness and significant
debt service obligations, the Company's ability to obtain capital to fund future
growth, the Company's ability to complete divestitures and other transactions to
deleverage its balance sheet, changes in the healthcare system, government
regulation, dependence on reimbursement by third party payors, competition, the
implementation and interpretation of healthcare reform legislation and other
factors as detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
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