Ventas Exits SNF Business With $700M Sale

The company has reaffirmed its decision to sell 36 skilled nursing facilities to an affiliate of Blue Mountain Capital Management.
Ventas Inc. is selling its 36-owned skilled nursing facilities that are currently operated by Kindred Healthcare Inc. for $700 million to an affiliate of Blue Mountain Capital Management LLC, removing itself from the SNF business.

“We are delighted to work with Kindred to position both companies for continued success,” Debra Cafaro, Ventas’ chairman & CEO, said in a company release. “With the sale of 36 skilled nursing assets, we are improving our portfolio and enhancing our ability to deliver reliable growth and income for our shareholders. Upon the expected sale, our skilled nursing rent will be only one percent of our total business.”

These actions differentiate the company’s high-quality portfolio of leading properties and continues its long track record of working cooperatively with its customers to provide innovative capital solutions…

Ventas Exits SNF Business With $700M Sale

Categories : Finance

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