Health Care REIT Announced It Will Acquire Genesis Healthcare’s Assets For $2.4 Billion

Health Care REIT (NYSE:HCN) announced it signed a definitive agreement to acquire substantially all of the real estate assets of Genesis Healthcare for about .4 billion. Genesis’ highly respected and tenured management team will continue to operate the facilities pursuant to a long-term triple-net master lease. George L. Chapman, Health Care REIT’s Chairman, Chief Executive Officer and President said, “We expect Health Care REIT’s acquisition and leaseback of Genesis HealthCare’s assets will be highly accretive to HCN’s earnings, The acquisition is consistent with our commitment to partner with best-in-class operators across the health care acuity spectrum. The investment provides embedded opportunities for both organic and external growth. Genesis is positioned to grow its quality payor mix and optimize occupancy as it continues to meet the needs of an increasing post-acute, short-stay patient population. In addition, Genesis has built a robust pipeline of potential acquisition and development opportunities as it expands its footprint along the eastern seaboard. This new partnership between Genesis and Health Care REIT is an exciting growth story.”
Video Rating: 0 / 5

This entry was posted in Uncategorized and tagged , , , , , , , , , . Bookmark the permalink.

Leave a Reply