WEST POINT, Pa. — Senior living provider ACTS Retirement-Life Communities has unveiled a multi-year strategic plan to renovate and reposition its portfolio of continuing care retirement communities (CCRCs). The renovations are expected to total approximately $300 million over the next three years.
Company News
Ventas to Acquire Ardent Health Services for $1.75B, Spin Off Skilled Nursing Portfolio
by Jeff Shaw
CHICAGO — Ventas Inc. (NYSE: VTR), a seniors housing and healthcare REIT, has signed a definitive agreement to acquire Ardent Medical Services Inc. for $1.75 billion in cash. Ardent Medical, a subsidiary of Nashville-based Ardent Health Services, is one of the 10 largest for-profit hospital firms in the United States. The privately owned Ardent Medical will be entitled to distribute up to $75 million in excess cash to its existing shareholders as part of the transaction.
SAN FRANCISCO — Aging2.0, an international organization working to improve technology that supports seniors, has launched the Aging2.0 Alliance, a new membership community for senior care stakeholders and technology companies. The announcement was made at the 2015 National Investment Center (NIC) Capital and Business Strategies Forum in San Diego.
ATLANTA— AdCare Health Systems Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA), a provider of senior living and healthcare facility management, continues its transition from an owner and operator of healthcare facilities to a healthcare property holding and leasing company, with 35 of the company’s 40 properties leased or sub-leased. As a result, the company’s board of directors declared a cash dividend on the common stock. The company also announced changes to the board of directors and a the hiring of a new chief financial officer.
CARY, N.C. and TORONTO — Expanding its senior living market presence, North Carolina-based Dude Solutions Inc., a software-as-a-service provider of operations management solutions, has acquired Canadian software company Windmill Software Inc., including its flagship senior living operations software, TheWorxHub. The acquisition will grow Dude Solutions’ senior living footprint and also marks the opening of a Dude Solutions Canadian office in Toronto. Terms of the transaction were not disclosed.
TOLEDO, Ohio — Health Care REIT Inc. (NYSE:HCN) has added Colin Catherwood as vice president – investments, Canada. Catherwood will lead HCN’s new office in Toronto, Ontario. He is responsible for managing the company’s Canadian portfolio and identifying and managing growth opportunities in Canada.
BRIDGEWATER, N.J. — The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) have recognized Avalon Assisted Living at Bridgewater with a National Quality Award. The assisted living facility is one of only four NCAL members in the country to receive the award.
HUNT VALLEY, Md. — Omega Healthcare Investors Inc. (NYSE: OHI) has declared a prorated dividend of 36 cents per share of Omega’s common stock in view of the pending acquisition of Aviv REIT Inc. (NYSE: AVIV), pursuant to a merger of Aviv with and into a wholly owned subsidiary of Omega.