Dive Brief:
- Equity Group Investments will take a majority stake in the hospital operations of Ventas-owned Ardent Health Services.
- Ventas, which is one of the largest healthcare real estate investment funds and operates senior-living communities, hospitals and medical offices, purchased Ardent for $1.75 billion in cash in April.
- Ventas will retain a 9.9% stake in Ardent, which generates about $2 billion in annual revenue and is valued at about $475 million.
Dive Insight:
"With Ardent, we are well positioned to grow in the large, fragmented and rapidly consolidating $1-trillion domestic hospital segment," said Ventas CEO Debra Cafaro.
The deal is expected to close in Q3. Ardent will retain its current executive team and Ventas will retain Ardent's real estate.