🠈 Welltower 🠊
Welltower is a Real Estate Investment Trust that invests in senior housing and nursing homes. The company is headquartered in Toledo, Ohio. It trades on the NYSE with the symbol WELL.
- 1970: Bruce Thompson and Frederic D. Wolfe created a REIT called Health Care Fund to focus medical facilities.
- 1985: company changed its name to Health Care REIT.
- 2011: Health REIT acquired the real estate of Genesis HealthCare for $2.4 billion and a long term lease.
- 2013: Health REIT acquired real estate assets of Sunrise Senior Living for $4.3 billion. In same transaction KKR and others acquired an 80% stake in Sunrise Management.
- 2013: Health REIT begins partnership with Canadian based Revera Living.
- 2013: Health REIT and Revera acquired Regal Lifestyle Communities for CAD$764 . 2014: Revera acquires KKR's investment in Sunrise Senior Living
- 2015: Health REIT buys and leases back four hospitals by Aspen Healthcare in London hospitals for £226.
- 2015: Health REIT and Canada Pension Plan Investment Board (CPPIB) acquired medical properties in Southern California.
- 2015: Health REIT changed its name to Welltower and its symbol to WELL.
- 2016: Welltower and CPPIB bought a 97.5% stake in Discovery Senior Living in Florida for $555 million.
- 2016: Welltower in conjuction with Hines REIT developed a 15-story senior living facility in Manhatten.
- 2016: Welltower acquired 19 properties from Vintage Senior Living for $1.15 billion.
- 2018: Welltower aided by ProMedica acquired Quality Care Properties for $1.95 billion.
- 2018: Welltower and ProMedica acquired HCR ManorCare For $4.4 Billion
History of HCR Manorcare
HCR ManorCare offers a network of assisted living, skilled nursing and hospice facilities in 28 states.
- 1959: Stewart W. Bainum, Sr., a former plumber, opened a nursing home in Wheaton, Maryland.
- 1969: ManorCare went public.
- 1980: ManorCare merged with Quality International which later renamed Choice Hotels.
- 1982: ManorCare acquired Cenco for $209 million giving the company a total of 105 nursing facilities in 19 states.
- 1992: ManorCare spun off Vitalink Pharmacy Services into a public company for $236 million.
- 1996: the company spun off Choice Hotels to focus on healthcare.
- 1998: ManorCare merged with Health Care and Retirement Corporation to become HCR ManorCare with headquarters in Toledo.
- 2000: Stewart W. Bainum, Jr. made bid to acquire the company. It was rejected and Bainum left the company.
- 2007: Carlyle Group acquired HCR ManorCare for $4.9 billion taking it off the public market.
- 2010: HCR ManorCare entered into a sale-leaseback for 338 facilities with an REIT called HCP for $6.1 billion.
- 2016: HCP spun off its holdings of HCR ManorCare Properties into a company called Quality Care Properties.
- 2018: HCR ManorCare filed for bankruptcy protection to be acquired by its landlord Quality Care Properties.
- 2018: Welltower acquired Quality Care.
- Wikipedia - Welltower (Drawn 6/21/2018)
- PR Newswire - ProMedica and Welltower to acquire Quality Care Properties (Drawn 6/21/2018)
- PR Newswire: Welltower and Promedica Acquire HCR MAnorCare (Drawn 12/4/2018)
- PR Newswire - HCP spin off Quality Care Properties (Drawn 12/4/2018)
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