Health Care REIT Buys Windrose Medical
September 13, 2006
Health Care REIT Inc., which is based in Ohio, said Wednesday it is acquiring Tennessee’s Windrose Medical Properties Trust for about $877 million.
The all-stock deal, which includes debt assumption, will result in Windrose shareholders owning as much as 15 percent of Health Care REIT, assuming all shares are tendered.
Upon completion of the purchase, the combined entity will have gross real estate assets of $4 billion and an enterprise value of some $5 billion.