CHICAGO--(BUSINESS WIRE)--Ventas, Inc. (NYSE: VTR) announced today that Todd W. Lillibridge, President and CEO of Lillibridge Healthcare Services (“LHS” or “the MOB Business”) and EVP Medical Property Operations for Ventas will transition to a new role as Senior Advisor to the Ventas Chairman and CEO in early 2018. Ventas intends to appoint a new leader of the MOB Business and will commence the search process promptly.
Lillibridge is committed to leading the MOB Business in his current capacity until a successor is appointed, and in ensuring a seamless transition of responsibilities to the new CEO.
“Todd is a visionary who founded his namesake company more than 25 years ago with the goal of providing comprehensive real estate solutions to high-quality hospitals and health systems. He pioneered the MOB business as a unique institutional asset class, and built a nationally-respected brand,” said Debra A. Cafaro, Ventas Chairman and Chief Executive Officer. “LHS is a strong, enduring company and I have great confidence in its continued success. Todd has thrived as an entrepreneur, an energetic business partner focused on clients’ goals, an inspiring leader, mentor and colleague, and we are grateful for his ongoing contributions to our industry and to Ventas.”
“This is another inflection point in my journey in the world of healthcare real estate, and I look forward to supporting the transition and to working closely with the Ventas and Lillibridge teams to continue leveraging our success,” said Lillibridge. “I am proud of what we accomplished over the past 25+ years, and I want to express my sincere thanks to the people who have helped me build this great company. It has been an honor and a privilege to lead our dedicated employees and serve more than 400 of the nation’s top hospitals and health systems with integrity and excellence.”
Lillibridge joined Ventas in 2010 with the closing of Ventas’s acquisition of LHS. Under his leadership, the MOB Business has grown more than seven times. Broadly acknowledged as one of the nation’s largest medical office portfolios, LHS operates 21+ million square feet of outpatient facilities in more than 250 markets across 32 states. The Lillibridge team serves more than 15,000 physician tenants daily and supports 40 million patient visits each year.
Ventas, Inc., an S&P 500 company, is a leading real estate investment trust. Its diverse portfolio of approximately 1,300 assets in the United States, Canada and the United Kingdom consists of seniors housing communities, medical office buildings, life science and innovation centers, inpatient rehabilitation and long-term acute care facilities, health systems and skilled nursing facilities. Through its Lillibridge subsidiary, Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States. References to “Ventas” or the “Company” mean Ventas, Inc. and its consolidated subsidiaries unless otherwise expressly noted. More information about Ventas and Lillibridge can be found at www.ventasreit.com and www.lillibridge.com.