Profile: HCP Inc (HCP.N)
9 Dec 2016
HCP, Inc. (HCP), incorporated on March 21, 1985, is a self-administered real estate investment trust (REIT). The Company invests in real estate serving the healthcare industry in the United States. The Company's portfolio consists of investments in various healthcare segments: senior housing, post-acute/skilled nursing, life science, medical office and hospital. Its portfolio includes owned portfolio, unconsolidated joint ventures, and developments and redevelopments. The Company has interests in unconsolidated joint ventures representing approximately 30 properties primarily in its senior housing, life science and medical office segments.
The Company has interests in approximately 530 senior housing facilities, including over 25 properties owned by its unconsolidated joint ventures. Its senior housing facilities include independent living facilities (ILFs), assisted living facilities (ALFs), memory care facilities (MCFs), care homes, and continuing care retirement communities (CCRCs), which cater to different segments of the elderly population. Services provided by its tenants or operators in these facilities are primarily paid for by the residents directly or through private insurance and are less reliant on government reimbursement programs, such as Medicare and Medicaid. ILFs are designed to meet the needs of seniors choosing to live in an environment surrounded socially by their peers with services, such as housekeeping, meals and activities. ALFs are licensed care facilities that provide personal care services, support and housing for those needing help with activities of daily living (ADL), such as bathing, eating, dressing and medication management, yet require limited medical care. MCFs address the challenges of its residents with Alzheimer's disease or other forms of dementia. Care homes offer personal care services, such as lodging, meal services, housekeeping and laundry services, medication management and assistance with ADL. CCRCs offer several levels of assistance, including independent living, assisted living and nursing home care. The Company has interests in approximately 80 ILFs, over 300 ALFs, approximately 70 MCFs, over 40 care homes and approximately 30 CCRCs.
The Company has interests in approximately 310 post-acute/skilled nursing facilities (SNFs). SNFs offer restorative, rehabilitative and custodial nursing care for people following a hospital stay or not requiring complex treatment available at hospitals. Post-acute/skilled nursing services provided by its tenants and operators in these facilities are paid for by private sources, third-party payors (insurance and Managed Care Organizations or MCOs) or through the Medicare (including Managed Care) and Medicaid programs. Its post-acute/skilled nursing property types include care homes in the United Kingdom that provide nursing care. It has interests in approximately 20 care homes.
The Company has interests in approximately 120 life science properties, including its facilities owned by its unconsolidated joint ventures. These properties contain laboratory and office space primarily for biotechnology, medical device and pharmaceutical companies, scientific research institutions, government agencies and other organizations involved in the life science industry. Life science properties are primarily configured in business park or campus settings, and include multiple buildings. Its properties are located in San Francisco and San Diego, California, Salt Lake City, Utah, Durham, North Carolina and Boston, Massachusetts.
The Company has interests in approximately 230 medical office buildings (MOBs), including a facility owned by its unconsolidated joint venture. MOBs contain physicians' offices and examination rooms, and also include pharmacies, hospital ancillary service space and outpatient services, such as diagnostic centers, rehabilitation clinics and day-surgery operating rooms. Its MOBs are leased to healthcare providers (hospitals and physician practices), with approximately 70% of its MOBs, based on square feet, located on hospital campuses, while over 90% are affiliated with hospital systems.
The Company has interests in approximately 20 hospitals. Its hospital property types include acute care, long-term acute care, and specialty and rehabilitation hospitals.
1920 Main St Ste 1200
IRVINE CA 92614-7230
Company Web Links
- BRIEF-HCP - Intends to elect Tom Herzog as CEO and a member of board
- BRIEF-HCP announces Q3 FFO per share $0.65
- BRIEF-Hcp to sell a portfolio of 64 brookdale communities for $1.125 billion
- Fitch Removes HCP from Rating Watch Negative; Affirms 'BBB' IDR
- BRIEF-HCP board approves spin-off of Quality Care Properties Inc