About Ventas

VENTAS, INC. (NYSE: VTR)
Ventas, Inc. is one of the nation's leading healthcare real estate investment trusts (REITs). Ventas owns 243 senior housing facilities, 40 hospitals, 187 skilled nursing facilities and 31 medical office buildings and other healthcare facilities containing approximately 50,000 licensed beds and senior living units located in 43 states and two Canadian provinces. The Company also has investments in 4 other healthcare and senior housing facilities.

OFFICERS

Debra A. Cafaro
Chairman of the Board, President and Chief Executive Officer

Raymond J. Lewis
Executive Vice President and Chief Investment Officer

T. Richard Riney
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary

Richard A. Schweinhart
Executive Vice President and Chief Financial Officer

Robert J. Brehl
Chief Accounting Officer and Controller

Timothy A. Doman
Senior Vice President, Asset Management

Julie M. Dreixler
Senior Vice President, Human Resources

Brian K. Wood
Senior Vice President, Tax

James L. Andrews
Vice President, Hospital Business Development

Kristen M. Benson
Vice President and Senior Securities Counsel

Vincent M. Cozzi
Vice President, Acquisitions

Christian N. Cummings
Vice President, Asset Management

Joseph D. Lambert
Vice President, Transactions Counsel

VENTAS BOARD OF DIRECTORS

Debra A. Cafaro, Chairman of the Board
Douglas Crocker II, Presiding Director
Ronald G. Geary
Jay M. Gellert
Robert D. Reed
Sheli Z. Rosenberg
James D. Shelton
Thomas C. Theobald

Committees of the Board of Directors

HEADQUARTERS

Chicago, Illinois
OTHER OFFICES
Louisville, Kentucky
FACTS AND FIGURES
  • Ventas trades on the New York Stock Exchange (symbol: VTR) and as of September 30, 2009, had approximately 157 million shares outstanding.
  • For the 2008 calendar year, Ventas's normalized FFO per share increased by 2 percent.
  • Ventas was a strong performing REIT during the five year period ended September 30, 2009, with an annual total shareholder return of 13.9 percent.
  • At September 30, 2009, Ventas's total enterprise value was approximately $9 billion and its equity market capitalization was approximately $6 billion.
  • The Company's geographic diversity minimizes the potential impact of individual state regulatory and reimbursement changes. As a percentage of revenues, only two states account for more than 10 percent of Company revenues.
  • Ventas was added to the S&P 500 in March 2009.

PORTFOLIO

Ventas owns 501 healthcare-related facilities including 40 hospitals, 187 skilled nursing facilities, 243 senior housing facilities, and 31 other healthcare related facilities, which together contain approximately 50,000 licensed beds. These facilities are leased or managed by third party operators. The following is a breakdown of the types of facilities, the percentage of Ventas's rental revenue and the number of beds contained in each type of facility:

Type of Facility
Number of Facilities
Percent of Rental Revenue (%) *
Number of Beds / Units / Square Feet
Hospitals
40
11 %
3,517 beds
Skilled Nursing Facilities
187
20 %
22,435 beds
Senior Housing Facilities
243
63 %
23,204 units
MOBs and Other Healthcare Facilities
31
4 %
122 beds / 1,402,307 square feet
Loan Investments
NA
1 %
NA

* Proforma based on annualized 3Q 2009 Ventas revenue assuming all events occurred at the beginning of the period.

The Company also has investments or other interests in 4 additional healthcare related and senior housing assets.

CORPORATE HISTORY and KEY DATES

  • May 1, 1998 - Ventas is split into two companies: Ventas (the former Vencor) remains owner of the nursing center and hospital real estate and properties; and a newly formed company, Vencor (now known as Kindred Healthcare, Inc. (NYSE:KND)) takes the original name and the operations of the nursing centers and hospitals.
  • July 1998 - New Medicare Prospective Payment System goes into effect, dramatically reducing government reimbursements for long-term care and rehabilitative services. Though the government ultimately rescinds a portion of the cutback, the changes ultimately result in the bankruptcy filings of many of the country's largest investor-owned providers.
  • March 1999 - Debra A. Cafaro named President and CEO days before the Company's stock falls sharply on speculation of a possible Vencor bankruptcy filing (which occurred in September 1999). Cafaro previously had been president and a member of the board of Chicago-based Ambassador Apartment (NYSE:AAH).
  • September 1999 - Vencor files for Chapter 11 bankruptcy; under stipulation agreement, Vencor agrees to pay rent to Ventas at agreed upon levels.
  • January 2000 - Ventas reaches agreement with its lenders for amended $1 billion long-term credit facility.
  • September 2000 - Company elects REIT status beginning January 1, 1999.
  • April 2, 2001 - Ventas reinstates its quarterly dividend of $0.22 per share.
  • April 20, 2001 - Vencor emerges from bankruptcy and renames itself Kindred Healthcare, Inc.
  • December 17, 2001 - Ventas announces completion of a commercial mortgage backed securitization (CMBS) transaction that refinanced approximately $213 million of the Company’s outstanding principal balance on its Amended Credit Agreement.
  • April 17, 2002 - Ventas completes $400 million senior note offering and new credit facility.
  • September 19, 2002 - Ventas names Raymond J. Lewis Senior Vice President and Chief Investment Officer.
  • December 2, 2002 - Ventas names Richard A. Schweinhart Senior Vice President and Chief Financial Officer.
  • January 30, 2003 - President and Chief Executive Officer, Debra A. Cafaro is named to the additional position of Chairman of the Board. Board member Douglas Crocker II is named Presiding Director.
  • June 30, 2003 - Ventas completes sale of 16 skilled nursing facilities in Florida and Texas to Kindred, receiving $59.7 million cash and a $4.1 million lease termination fee. Ventas uses the net proceeds to repay in full all unpaid amounts under the Company's settlement with the Department of Justice (DOJ) and for general corporate purposes.
  • December 11, 2003 - Ventas completes the sale of ten underperforming facilities to Kindred for $85 million, which includes a purchase price of $79 million and a $6 million lease termination fee. This transaction will result in a gain of approximately $55 million.
  • January 29, 2004 - Ventas announces its intention to acquire 14 assisted and independent living facilities for $115 million and lease them to Brookdale Living Communities, Inc.
  • February 5, 2004 - Ventas completes the acquisition of ElderTrust (NYSE:ETT) in an all cash transaction valued at $184 million. This acquisition adds 18 new properties and more than 1,650 beds to Ventas's portfolio of senior living and healthcare facilities.
  • July 1, 2004 - Standard and Poor's raised Ventas's corporate credit ratings to "BB" from "BB-", citing the company's improved portfolio diversification, increased net income and cash flow, and strong rent coverages.
  • July 6, 2004 - Ventas graduates to the Russell 1000 Index (representing the 1000 largest public U.S. companies) as a result of the increase in the Company's market capitalization.
  • September 9, 2004 - Ventas closes a new $300 million secured revolving credit facility initially priced at 125 basis points over LIBOR, replacing its previous revolving credit facility and term loan initially priced at 275 basis points over LIBOR.
  • October 8, 2004 - Ventas issues $125 million of 6-5/8% unsecured senior notes locking in long-term debt costs and giving the company greater capacity to continue its growth and diversification plan.
  • June 7, 2005 - Ventas completes the acquisition of Provident Senior Living Trust in a cash and stock transaction valued at $1.2 billion. This acquisition adds 68 private pay, high-quality independent and assisted living assets to its portfolio.
  • December 2005 - Moody's Investors Service upgraded Ventas to a Ba2 rating on its senior debt with an outlook stable and S & P upgraded Ventas to a BB+ rating on its senior debt with a stable outlook. Both agencies cited the material progress made by Ventas in diversifying its tenant concentration.
  • April 2006 - Ventas closes a new $500 million unsecured revolving credit facility initially priced at 75 basis points over LIBOR, replacing its previous secured revolving credit facility initially priced at 125 basis points over LIBOR.
  • July 7, 2006 – Ventas received its first investment grade rating when Fitch assigned a rating of BBB- to its outstanding senior unsecured notes of $1.1 billion and its $500 million senior unsecured revolving credit facility.
  • October 12, 2006 - Ventas exercised its election to increase the Kindred rent pursuant to the reset right in the Master Leases. This election increases the annual rent by $33.1 million effective July 19, 2006.
  • November 7, 2006 - Ventas completes the acquisition of 64 healthcare and senior housing properties in a transaction with entities affiliated with Canada's Reichmann family ("The Senior Care acquisition").
  • April 26, 2007 - Ventas completes the acquisition of Sunrise Senior Living REIT that adds 77 high-quality, private pay senior housing communities to its portfolio and provides the Company with its first international exposure.
  • February 5, 2008 - Ventas received its second investment grade rating after S&P raised its rating to BBB- from BB+.
  • March 3, 2009 - Ventas is added to the S&P 500.