Ventas Names and Registers Skilled Nursing Spin-Off, Care Capital Properties

by Jeff Shaw

CHICAGO — Ventas Inc. (NYSE: VTR) has filed a Form 10 Registration Statement with the Securities and Exchange Commission in connection with its previously announced plan to spin off most of its post-acute/skilled nursing facility portfolio into an independent, publicly traded REIT. The new public company will be named Care Capital Properties Inc. (CCP).

 “With this transaction, we will create two focused companies with distinct strategies,” says Debra A. Cafaro, Ventas chairman and CEO. “CCP will be well positioned as an independent, pure-play SNF REIT with significant external growth opportunities.”

Ventas plans to complete the spin-off in the second half of 2015. Following its separation from Ventas, CCP will be a newly listed, publicly traded REIT that will own, acquire and lease skilled nursing facilities and other healthcare assets across the United States. CCP’s portfolio will initially consist of 353 assets operated by 43 private regional and local care providers.

Under the terms of the spin-off, Ventas stockholders are expected to receive one share of CCP common stock via a special distribution for every four shares of Ventas common stock they own. The number of Ventas shares owned by each stockholder will not change as a result of the distribution.

Ventas’s common stock will continue to trade on the New York Stock Exchange under the symbol “VTR.”

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