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The Ventas, Inc. has entered into a definitive agreement to acquire 100 percent of Lillibridge Healthcare Services, Inc., and real estate interests in 95 medical office buildings and ambulatory care facilities.

Lillibridge is a  Chicago-based healthcare real estate firm specializing in the acquisition, development and management of outpatient healthcare real estate facilities that are strategically aligned with investment grade, high-quality, not-for-profit healthcare systems nationwide. Ventas, an S&P 500 company headquartered in Chicago, is a leading healthcare real estate investment trust (REIT) with a diverse portfolio of healthcare and senior housing assets strategically located in 43 states and two Canadian provinces. Ventas has an enterprise value of approximately $10 billion, has been the “Top Performing REIT” over the past ten years, and was named “Top Financial of the Decade.”

Completion of the transaction will be subject to satisfaction of certain closing conditions. The acquisition is expected to be completed in the third-quarter 2010, although there can be no assurance that the transaction will close or, if it does, when the closing will occur. Upon completion of the acquisition, Lillibridge will operate as a wholly-owned subsidiary of Ventas.

STRATEGIC OVERVIEW

The business model features a powerful combination of Lillibridge’s integrated operating platform, strong client relationships and prominent brand in the medical office sector with Ventas’s ready access to the public debt and equity markets, strong balance sheet and ample liquidity.

“Ventas has been the best performing publicly traded REIT over the past ten years,” said Debra A. Cafaro, Chairman of the Board, President and Chief Executive Officer of Ventas. “The acquisition of Lillibridge is a major step in executing our strategic growth and diversification plan that will allow us to continue to create value for our clients, employees, and shareholders.”

Healthcare reform and demographic shifts, driven by an aging population of Baby Boomers, will increase demand for outpatient medical services – further enhancing development and financing opportunities for the combined organization.

“Now more than ever, hospitals and other healthcare providers will demand real estate partners that can quickly and reliably deploy cost effective capital, facility development and property management solutions across the entire continuum of care,” said Todd W. Lillibridge, Chairman and Chief Executive Officer of Lillibridge.

ACQUISITION CREATES A LEADING NATIONAL INTEGRATED HEALTHCARE REAL ESTATE COMPANY

• Over 250 employees
• 154 medical office buildings and other outpatient facilities encompassing 8.4 million square feet across 20 states and 65 distinct markets
• 244 senior housing facilities
• 40 hospitals
• 187 skilled nursing centers

Tags | healthcare, Lillibridge, Ventas

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