CLEVELAND — OnShift, a Cleveland-based software company serving the healthcare industry, has acquired Avesta Systems Inc., a provider of talent acquisition software and services that streamline recruiting and hiring processes. Avesta’s software, now called OnShift Employ, manages the talent acquisition process, including candidate sourcing, recruitment, screening, hiring and onboarding. With the Avesta acquisition, OnShift further expands its footprint in the healthcare marketplace, by now also serving organizations in the emergency medical services (EMS) segment. The cost of the acquisition was not disclosed.
Company News
Welltower Forms Joint Venture with Thomas Jefferson University for Real Estate, Care Partnerships
by Jeff Shaw
PHILADELPHIA and TOLEDO, Ohio — Toledo-based real estate investment trust Welltower (NYSE: WELL) and Philadelphia-based Thomas Jefferson University and Jefferson Health have unveiled plans for a long-term strategic partnership. Under the deal, Welltower will buy an ownership stake in much of Jefferson’s real estate, while Jefferson will provide services at Welltower’s seniors housing properties. Welltower’s investment into Jefferson’s properties will allow the organization to reduce its fixed assets and redeploy the capital into other areas. Welltower also plans to help Jefferson accelerate its growth in ambulatory care through capital support …
DALLAS — Anand Patel and Narayan Patel have launched Journey Capital, a newly formed real estate development and acquisitions company based in Dallas. The company plans to start a pipeline of seniors housing properties, starting in Texas. The two principals originally started in the hospitality industry. “We take great pride in guest service, and we wanted to bring that passion into a new space,” says Anand. “Seniors housing is a natural fit, but we think the industry needs to evolve to meet its potential. Our goal is to build senior …
NEW YORK CITY — ORIX Corp. USA, the U.S. and Latin America arm of Tokyo-based ORIX Corp., has completed its acquisition of Hunt Real Estate Capital. The buyer announced it plans to combine Hunt Real Estate Capital with its two other ORIX Real Estate Capital brands, Lancaster Pollard and RED Capital Group. “The combined organization will possess the capital, national presence, servicing capability, and range of debt and investment solutions to address the needs of the entire commercial real estate community,” says Terry Suzuki, ORIX USA president and CEO. Industry …
Senior Housing Properties Trust Changes Name to Diversified Healthcare Trust Amid Massive Portfolio Restructuring
by Jeff Shaw
NEWTON, Mass. — Publicly traded REIT Senior Housing Properties Trust has changed its name to Diversified Healthcare Trust and has begun trading under its new stock symbol, DHC on the Nasdaq stock exchange. “We believe [the new name] more accurately depicts both our portfolio of diverse, high-quality healthcare real estate and our strategy moving forward,” says Jennifer Francis, president and chief operating officer. “Over the past 10 years, we have made considerable progress in diversifying and enhancing what was once a pure-play senior living portfolio by strategically acquiring state-of-the-art life …
SAN FRANCISCO — Sequoia Living, a nonprofit organization that operates seniors housing and provides services to the elderly in Northern California, has hired Sara McVey as president and CEO. McVey succeeds David Berg, who retired in September. Bringing more than 20 years of marketing and senior living management experience to Sequoia Living, McVey previously served as CEO of Horizon House, a continuing care retirement community in Seattle. Prior to that, she held executive leadership roles at Mather LifeWays, an operator of senior living communities. McVey earned a bachelor’s degree in …
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, one of the nation’s largest nonprofit senior living organizations, has acquired an 80,000 SF office building in Fort Washington for an undisclosed price. Acts will move its headquarters to the building and will be the sole occupant. Acts will move its operations from West Point, just a few miles away. Both municipalities are northern suburbs of Philadelphia. Acts has operated out of its current headquarters since 1989. The office complex was built in 2006 and will serve Acts’ primary base of operations for …
IRVINE, Calif. — Healthpeak Properties Inc. (NYSE: PEAK), the Irvine-based REIT formerly known as HCP, has appointed Sara Grootwassink Lewis as an independent director to its Board of Directors. The appointment expands the board to eight directors, with an average director tenure of approximately five years.