ProMedica Health System to acquire HCR ManorCare for £765m.

ProMedica Health System, a non-profit health care system, agreed to acquire HCR ManorCare, a real estate investment trust that invests in nursing and assisted living properties, for £765m. "We are thrilled to have a successful outcome for our shareholders, HCR ManorCare employees and provide continuity and stability for the more than 200,000 of HCR ManorCare patients and residents. ProMedica and Welltower together are redefining the settings where health care will be delivered and ProMedica is committed to the investment necessary to enhance the HCR ManorCare platform. QCP is happy to have played a part in facilitating this exciting next chapter for HCR ManorCare," Mark Ordan, Quality Care Properties CEO.