EX-99.1
4
a11-10049_1ex99d1.htm
EX-99.1
Exhibit 99.1
HCP Closes $6.1 Billion Acquisition of HCR ManorCare's Real Estate Assets
LONG BEACH, CA - April 8, 2011 - HCP (NYSE:HCP) announced that it closed the acquisition of 334 post-acute, skilled nursing and assisted living facilities of HCR ManorCare for a total consideration of $6.1 billion in cash. In connection with the closing, HCP entered into a long-term triple-net master lease under which HCR ManorCare will continue to operate the facilities.
Additionally, HCP exercised its option to purchase an equity interest in the operations of HCR ManorCare for $95 million, which represents a 9.9% equity interest at closing. HCR ManorCare, based in Toledo, Ohio, is widely recognized as a leading provider of short-term post-acute services and long-term care. HCR ManorCare has successfully expanded its clinical capabilities in recent years to become a premier provider of post-acute services and to offer patients and payors a more cost-effective alternative to prolonged and costly hospitalizations.
About HCP
HCP, Inc., an S&P 500 company, is a real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in the United States. HCP has been a publicly traded NYSE listed company since 1985 (NYSE: HCP). HCP's portfolio of properties is distributed among distinct sectors of the healthcare industry, including senior housing, life science, medical office, post-acute/skilled nursing and hospital. For more information, visit HCP's website at www.hcpi.com.
Contact
Thomas M. Herzog
Executive Vice President - Chief Financial Officer
562-733-5309

EX - 99 . 1 4 a11 - 10049 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 HCP Closes $ 6.1 Billion Acquisition of HCR ManorCare 's Real Estate Assets LONG BEACH , CA - April 8 , 2011 - HCP ( NYSE : HCP ) announced that it closed the acquisition of 334 post - acute , skilled nursing and assisted living facilities of HCR ManorCare for a total consideration of $ 6.1 billion in cash . In connection with the closing , HCP entered into a long - term triple - net master lease under which HCR ManorCare will continue to operate the facilities . Additionally , HCP exercised its option to purchase an equity interest in the operations of HCR ManorCare for $ 95 million , which represents a 9 . 9 % equity interest at closing . HCR ManorCare , based in Toledo , Ohio , is widely recognized as a leading provider of short - term post - acute services and long - term care . HCR ManorCare has successfully expanded its clinical capabilities in recent years to become a premier provider of post - acute services and to offer patients and payors a more cost - effective alternative to prolonged and costly hospitalizations . About HCP HCP , Inc . , an S & P 500 company , is a real estate investment trust ( REIT ) that invests primarily in real estate serving the healthcare industry in the United States . HCP has been a publicly traded NYSE listed company since 1985 ( NYSE : HCP ) . HCP 's portfolio of properties is distributed among distinct sectors of the healthcare industry , including senior housing , life science , medical office , post - acute / skilled nursing and hospital . For more information , visit HCP 's website at www.hcpi.com . Contact Thomas M . Herzog Executive Vice President - Chief Financial Officer 562 - 733 - 5309