Profile: Ventas Inc (VTR)
29 Jan 2015
Ventas, Inc., incorporated on June 22, 1987, is a real estate investment trust (REIT). The Trust has a diversified portfolio of seniors housing and healthcare properties in the United States, Canada. The Trust, through its Lillibridge Healthcare Services, Inc. (Lillibridge) subsidiary and its ownership interest in PMB Real Estate Services LLC (PMBRES), provides MOB management, leasing, marketing, facility development and advisory services to hospitals and health systems in the United States. The Company’s business segments include triple-net leased properties; senior living operations; and MOB operations. As of December 31, 2013, the Trust owned approximately 1,473 seniors housing and healthcare properties. As of December 31, 2013, the Trust owns approximately 1,500 properties, including seniors housing communities, medical office buildings (MOBs), skilled nursing and facilities, and hospitals.
In the triple-net leased properties segment, the Company acquires and owns seniors housing and healthcare properties throughout the United States and leases those properties to healthcare operating companies under triple-net or absolute-net leases that obligate the tenants to pay all property-related expenses. In the senior living operations segment, the Company invests in seniors housing communities throughout the United States and Canada and engages independent operators, such as Atria and Sunrise, to manage those communities. In its MOB operations segment, the Company primarily acquires, owns, develops, leases, and manages MOBs.
Seniors Housing Communities
The Trust’s seniors housing communities include independent and assisted living communities, continuing care retirement communities and communities providing care for individuals with Alzheimer’s disease and other forms of dementia or memory loss. These communities offer studio, one bedroom and two bedroom residential units on a month-to-month basis primarily to elderly individuals requiring various levels of assistance.
Medical Office Buildings
Medical Office Buildings are typically multi-tenant properties leased to several different unrelated medical practices, which can be associated with a large single specialty or multi-specialty group. Tenants include physicians, dentists, psychologists, therapists and other healthcare providers, with space devoted to patient examination and treatment, diagnostic imaging, outpatient surgery and other outpatient services As of December 31, 2013, the Trust owned or managed for third parties approximately 21 million square feet of MOBs.
Skilled Nursing and Other Facilities
Skilled nursing facilities provide rehabilitative, restorative, skilled nursing and medical treatment for patients and residents who do not require the high technology, care-intensive, high cost setting of an acute care or rehabilitation hospital. Treatment programs include physical, occupational, speech, respiratory and other therapies, including sub-acute clinical protocols such as wound care and intravenous drug treatment. Its personal care facilities provide specialized care, including supported living services, neurorehabilitation, neurobehavioral management and vocational programs, for persons with acquired or traumatic brain injury.
Hospitals are operated as 1-term acute care hospitals, which have a Medicare average length of stay greater than 25 days and serve medically complex, chronically ill patients who require a high level of monitoring and specialized care. The Trust’s 1-term acute care hospitals are freestanding facilities. The Trust also owns two hospitals focused on providing children’s care and five rehabilitation hospitals devoted to the rehabilitation of patients with various neurological, musculoskeletal, orthopedic and other medical conditions.
Suite 3300, 353 N. Clark Street
CHICAGO IL 60654