ProMedica Health System to Acquire HCR ManorCare Redefining Care for Seniors
Summary
"We want to take down the wall between traditional hospital and post-acute care services in an effort to enhance the health and well-being of our aging population," said Randy Oostra, ProMedica president and CEO.HCR ManorCare, based in Toledo, Ohio, has more than 50,000 employees providing services in 450 assisted living facilities, skilled nursing and rehabilitation centers, memory care communities, outpatient rehabilitation clinics, and hospice and home health agencies operating under the respected names of Heartland, ManorCare Health Services and Arden Courts.ProMedica and Welltower (NYSE: WELL ), the worlds premier health care real estate investment trust (REIT) and leading owner of senior living residences, entered into a strategic joint venture agreement to facilitate the acquisition of HCR ManorCare and Arden Courts real estate assets from Quality Care Properties, Inc. (NYSE: QCP ).ProMedicas unique wellness focused strategy and investment commitment to the HCR ManorCare assets will make them more consequential sites of care and enhance their value.When Welltower and ProMedica use words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, they are making forward-looking statements.