CHICAGO: Ventas, Inc. said today that it and Kindred Healthcare, Inc. have entered into an agreement to transition the operations of nine post-acute facilities.
Ventas and Kindred have also reached other agreements, including making modifications to the master leases regarding 34 post-acute facilities that will remain subject to the various master leases between the companies and reimbursing Ventas for certain deferred capital expenditures at healthcare facilities previously transferred to new operators. Kindred has agreed to pay Ventas a total of $40 million in connection with these agreements.
Ventas Chairman and Chief Executive Officer Debra A. Cafaro said Ventas will continue to receive full rent from Kindred, including an escalation on May 1, 2015, until the nine facilities are transitioned to a new operator or sold by Ventas…
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