Welltower Confirms Two Coronavirus Diagnoses, Occupancy Remains Stable

TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has confirmed that two residents in its portfolio have tested positive for COVID-19.

“There is no perfect playbook to manage through a pandemic. However, flu and infection mitigation are integral parts of the day-to-day operating model in seniors housing, post-acute care and our medical office buildings,” says Tom DeRosa, the company’s CEO. “We maintain that the population of frail and/or memory impaired seniors are best served in safe, controlled environments that have time tested protocols in disease mitigation in place.”

Despite the outbreak, Toledo-based Welltower’s portfolio-wide occupancy has held at its average of 85.7 percent. The company owns 579 seniors housing communities.

“As of March 16, we have two residents with reported positive tests for COVID-19 in the U.S.,” says DeRosa. “Elevated protocols were put in place as early as late January which, if we look at our Seattle area assets, tells us they are helping to mitigate the spread of the virus and protect our resident base.”

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