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Welltower to buy stake in Philadelphia-based Jefferson's real estate assets

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Welltower to buy stake in Philadelphia-based Jefferson's real estate assets

Welltower Inc. signed a memorandum of understanding with Philadelphia-based Thomas Jefferson University and Jefferson Health for a joint venture under which the healthcare real estate investment trust would purchase a stake in certain Jefferson Health real estate assets.

The transaction would allow Jefferson Health to decrease some of its fixed-asset investments and use the proceeds for other clinical and academic strategic areas.

The REIT will also help Jefferson Health expedite its ambulatory care growth plan through capital support and its predictive analytics, while Jefferson Health clinicians will offer care at the REIT's seniors housing, assisted living and memory care properties.

The parties expect to execute a definitive agreement in the next 90 days.