Welltower Drops $3.1B Bid for U.K. Nursing Home Giant Barchester Healthcare

LONDON — Welltower (NYSE: WELL) has dropped it’s bid to buy London-based skilled nursing group Barchester Healthcare, according to British news outlet The Times.

The Toldeo, Ohio-based REIT had bid 2.5 billion pounds, approximately $3.1 billion based on this morning’s exchange rate. Barchester operates over 200 skilled nursing facilities and seven hospitals totaling more than 12,000 beds.

Welltower pulled its bid due to the chaos surrounding the COVID-19 pandemic, according to the Times report. Neither Welltower nor Barchester have publicly commented on the development.

Other American investors reportedly interested in purchasing Barchester include another seniors housing REIT giant, Ventas (NYSE: VTR), and private investment firm Columbia Pacific Advisors.