Welltower (WELL +1.4%) signs a memorandum of understanding to form a joint venture with Philadelphia-based Thomas Jefferson University and Jefferson Health.
Under the MOU, Welltower would acquire a stake in certain real estate assets of Jefferson, allowing Jefferson to reduce some of its fixed asset investments and redeploy the capital to other clinical and academic strategic areas.
In addition to the joint venture, Welltower would help Jefferson accelerate its ambulatory care growth strategy through capital support and its predictive analytics to guide future real estate investments based on where Jefferson clinical services would best serve the public.
Also, Jefferson’s clinicians would provide care at the Welltower senior housing, assisted living, and memory-care communities in the Philadelphia region.
The two companies expect to sign a definitive agreement within 90 days.
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