Health Care REIT Changes Name to Welltower

by Jeff Shaw

TOLEDO, Ohio — Health Care REIT Inc. (NYSE:HCN) has officially changed its name to Welltower Inc. and has launched a new website for the brand.

Based in Toledo, Welltower is the third largest owner of seniors housing properties in the U.S. with 611 properties totaling 59,786 units, according to 2015 rankings from the American Seniors Housing Association.

Welltower’s common and preferred stock will continue to trade on the New York Stock Exchange under the ticker symbol HCN.

“Welltower is a brand that emphasizes wellness and positions us as an essential partner in the transformation of healthcare infrastructure,” said Thomas J. DeRosa, the company’s CEO. “To deliver better care at lower cost and promote wellness for an aging population, healthcare is evolving from a hospital-centric model to a networked model of lower cost, more consumer friendly outpatient, post-acute and seniors housing settings. This transition is only possible with the capital to support innovative solutions and investment in healthcare infrastructure. Together with our operating partners, Welltower is answering this infrastructure challenge.”

According to the company, Welltower completed or announced more than $3.8 billion of investments this year and is on track to exceed $30 billion of gross real estate investments.

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