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New Deal


Announced

Welltower to acquire the skilled nursing joint venture of ProMedica.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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nursing facilities

Friendly

United States

Health Care Facilities

Single Bidder

Domestic

Majority

Acquisition

Private

Pending

Synopsis

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Welltower, a real estate investment trust agreed to acquire the skilled nursing joint venture of ProMedica, a non-profit health care system. Financial terms were not disclosed. "By engaging in this transaction, we will be able to increase focus and resources on the other areas of our health system as we continue to provide high-quality, compassionate care and invest in our communities and dedicated caregivers. This was a complex transaction, and I would like to personally thank Welltower's executive team – particularly Shankh Mitra, CEO – for their efforts," Arturo Polizzi, ProMedica President and CEO.

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