ProMedica (A1/A+) to Acquire QCP Principal Tenant, HCR ManorCare, and Enter Into New 15-Year Lease With Welltower and ProMedica Property Joint Venture (80/20) with 1.8x EBITDAR Coverage
~8% Yielding $2.2 Billion Investment at Welltower Share
Investment Expected To Provide ~$0.20 Per Share Annual Accretion to Welltower(1)
Joint Venture to Propel ProMedica to be in the top 15 Largest U.S. Health Systems
PR Newswire
TOLEDO, Ohio, April 25, 2018