Welltower has “a number of plans” to bring “next-generation” senior living communities to densely populated metropolitan areas with aging populations, CEO Tom DeRosa said Tuesday during the real estate investment trust’s third-quarter earnings call.
Assisted living and memory care “may become more consequential” in the healthcare system, and the recent complex deal involving Welltower, ProMedica Health System and HCR ManorCare “is the best example that one can point to” of how that system is changing, Welltower CEO Tom DeRosa said Friday.
Quality Care Properties stockholders overwhelmingly voted in favor of being acquired by fellow real estate investment trust Welltower on Wednesday at a special meeting in Bethesda, MD, where QCP is headquartered. The vote was closer on “golden parachute” payments to executives.
Less than two weeks before a special meeting at which shareholders will vote on whether to merge with fellow real estate investment trust Welltower, Quality Care Properties announced that it had reached an agreement to resolve two related class action lawsuits.
A potential rival to real estate investment trust Welltower’s plans to merge with Quality Care Properties has withdrawn its acquisition proposal and no longer is considering a transaction with the company. QCP made the disclosure Monday in a filing with the SEC in which it also revealed two class action lawsuits related to the proposed Welltower merger.
Quality Care Properties has announced a July 25 date for a special meeting where stockholders are expected to vote on a proposed merger with Welltower and multimillion dollar “golden parachute” payments for some executives.
Quality Care Properties said Tuesday that its board continues to recommend that stockholders approve the merger agreement with real estate investment trust Welltower that was announced in April, although it also announced that it is investigating an acquisition proposal from a third party that “could reasonably be expected to lead to a ‘superior offer’ as defined in the merger agreement.”
Quality Care Properties said Tuesday that it is investigating an acquisition proposal that “could reasonably be expected to lead to a ‘superior offer’ ” to the one announced in April with real estate investment trust Welltower.
Welltower CEO Tom DeRosa on Wednesday defended the decision to keep HCR ManorCare’s leadership team in place as the real estate investment trust gains a stake in the operator through a deal with the ProMedica health system. His remarks came after an attendee at an investor conference called the company a “steaming pile of real estate.”
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