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Ventas Acquires Nationwide Healthcare

Ventas Acquires  Nationwide Healthcare
Your grandma may cut you off at $20 each birthday, but Ventas, the REIT which owns many places where grandmas stay, dropped $7.4Bin a stock-for-stock transaction on Friday to buy the Nationwide Healthcare Properties. Ventas now has 65% ownership of the combined company, with a stock price of $44.99.
Ventas' Debra Cafaro (we snapped her with Sam Zell at REITWeek last summer) will remain CEO of what will be the largest healthcare REIT in the country, with a pro forma equity value of $17B. The combined company will own more than 1,300 assets in 47 states and Canada. Ventas is also the single biggest seniors housing owner in the US now with 643 assets. NHP CEO Douglas Pasquale will serve as a senior advisor during the transition. Debra says the merger strengthens the flexibility of the balance sheet of both companies.