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Welltower JV closes $4.4B purchase of Quality Care, principal tenants

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Welltower JV closes $4.4B purchase of Quality Care, principal tenants

A joint venture between healthcare real estate investment trust Welltower Inc. and not-for-profit healthcare system ProMedica Health System Inc. closed on their $4.4 billion acquisition of Quality Care Properties Inc. and its principal tenants, HCR ManorCare Inc. and Arden Courts.

Quality Care shareholders approved the merger at a July 25 special meeting. The acquisition was announced in April.