April 26, 2018 / 4:58 AM / a month ago

BRIEF-ProMedica Health And Welltower To Acquire Quality Care Properties In Newly Formed Joint Venture

April 26 (Reuters) - Welltower Inc:

* PROMEDICA HEALTH SYSTEM AND WELLTOWER TO ACQUIRE QUALITY CARE PROPERTIES IN NEWLY FORMED JOINT VENTURE

* PROMEDICA TO ACQUIRE QCP AND ENTER INTO NEW 15-YEAR LEASE WITH WELLTOWER

* WELLTOWER WILL ACQUIRE ALL OF OUTSTANDING SHARES OF QCP IN AN ALL CASH DEAL FOR $20.75 PER SHARE OFFER

* PROMEDICA HAS ENTERED INTO A DEFINITIVE AGREEMENT TO ACQUIRE OPERATIONS OF HCR MANORCARE AND ARDEN COURTS

* UNDER LEASE AGREEMENT, PROMEDICA WILL INVEST AS MUCH AS $400M OF GROWTH AND UPGRADE CAPITAL OVER NEXT FIVE YEARS

* PROMEDICA PROPERTY JOINT VENTURE YIELDING $2.2 BILLION INVESTMENT AT WELLTOWER SHARE INVESTMENT Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below