Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT: Lori Zimmerman
         Director, Investor Relations
         (610) 925-2000


Genesis Health Ventures Retains Advisors to Evaluate Strategic Alternatives

KENNETT SQUARE, PA -- (October 2, 2002) - Genesis Health Ventures today
announced that the Company has retained UBS Warburg LLC and Goldman Sachs & Co.
to assist in exploring certain strategic business alternatives, including, but
not limited to, the potential sale or spin-off of the Company's ElderCare
assets.

"Consistent with our previously stated strategic objectives, we are considering
these alternatives in order to maximize shareholder value while maintaining our
focus on growing NeighborCare, our institutional pharmacy business," stated
Robert H. Fish, interim Chief Executive Officer of Genesis Health Ventures, Inc.
"While we will evaluate such alternatives, there can be no assurance that any
transaction will be completed."


Genesis Health Ventures (GHVI) provides healthcare services to America's elders
through a network of NeighborCare pharmacies and Genesis ElderCare skilled
nursing and assisted living facilities. Other Genesis healthcare services
include rehabilitation and hospitality services, group purchasing, consulting
and facility management.

Visit our website at http://www.ghv.com

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; an economic downturn or changes in the laws affecting
our business in those markets in which we operate; and there can be no assurance
that any transaction will be completed and if completed will increase
shareholder value.

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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