PHILADELPHIA and TOLEDO, Ohio — Toledo-based real estate investment trust Welltower (NYSE: WELL) and Philadelphia-based Thomas Jefferson University and Jefferson Health have unveiled plans for a long-term strategic partnership. Under the deal, Welltower will buy an ownership stake in much of Jefferson’s real estate, while Jefferson will provide services at Welltower’s seniors housing properties.
Welltower’s investment into Jefferson’s properties will allow the organization to reduce its fixed assets and redeploy the capital into other areas. Welltower also plans to help Jefferson accelerate its growth in ambulatory care through capital support and predictive analytics to guide where future Jefferson clinical services would best serve the public.
Jefferson’s clinicians will provide care at the Welltower assisted living and memory care communities throughout the region, as well as future seniors housing properties the organizations may build together.
This marks a first-of-its-kind partnership between Welltower and a major academic health system.
The two organizations see a future where seniors housing residents are tracked by Jefferson clinicians through wearable devices, alert messaging integrated into electronic medical records, mobile-enabled communications and wellness tracking to reduce some of the social determinants that negatively impact health outcomes.
The joint venture is expected to be officially signed within 90 days.