At a special meeting of stockholders of Care Capital Properties,
Inc. (NYSE: CCP) (“CCP” or the “Company”) held today, approximately
98% of the votes cast – representing approximately 76% of CCP’s
shares of common stock outstanding – voted to adopt the agreement
and plan of merger, dated as of May 7, 2017, by and among CCP,
Sabra Health Care REIT, Inc. (NASDAQ: SBRA) (“Sabra”) and certain
of their affiliates, and to approve the merger of CCP with and into
a wholly owned subsidiary of Sabra pursuant to the terms of the
merger agreement.
“We are very pleased that CCP shareholders recognized the
compelling strategic merits of this transaction and the long-term
value that it will create,” said CCP Chief Executive Officer
Raymond J. Lewis. “On behalf of the Board of Directors and
management of CCP, we would like to thank our shareholders for the
support they have given us over the past two years and wish the
Sabra team the very best for a successful transition and
implementation.”
Sabra separately announced today that its stockholders voted to
approve the issuance of shares of Sabra common stock to CCP
stockholders in connection with the merger at a special meeting of
Sabra stockholders.
The transaction is currently expected to close on August 17,
2017, subject to customary closing conditions.
Care Capital Properties, Inc. is a healthcare real estate
investment trust with a diversified portfolio of triple-net leased
properties, focused on the post-acute sector. The Company’s skilled
management team is fully invested in delivering excellent returns
by forging strong relationships with shareholders, operators, and
employees. More information about Care Capital Properties, Inc. can
be found at: www.carecapitalproperties.com.
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements regarding CCP’s or its tenants’ or
borrowers’ expected future financial condition, results of
operations, cash flows, funds from operations, dividends and
dividend plans, financing opportunities and plans, capital markets
transactions, business strategy, budgets, projected costs,
operating metrics, capital expenditures, competitive positions,
acquisitions, investment opportunities, dispositions, growth
opportunities, expected lease income, continued qualification as a
real estate investment trust (“REIT”), plans and objectives of
management for future operations and statements that include words
such as “anticipate,” “if,” “believe,” “plan,” “estimate,”
“expect,” “intend,” “may,” “could,” “should,” “will” and other
similar expressions are forward-looking statements. These
forward-looking statements are inherently uncertain, and actual
results may differ materially from CCP’s expectations. Except as
required by law, CCP does not undertake a duty to update these
forward-looking statements, which speak only as of the date on
which they are made.
Factors that could cause CCP’s actual future results and trends
to differ materially from those anticipated are discussed in its
filings with the Securities and Exchange Commission and include,
without limitation: (a) the ability and willingness of CCP’s
tenants, borrowers and other counterparties to satisfy their
obligations under their respective contractual arrangements with
CCP, including, in some cases, their obligations to indemnify,
defend and hold harmless CCP from and against various claims,
litigation and liabilities; (b) the ability of CCP’s tenants and
borrowers to maintain the financial strength and liquidity
necessary to satisfy their respective obligations and liabilities
to third parties, including without limitation obligations under
their existing credit facilities and other indebtedness, and the
impact of CCP’s tenants or borrowers declaring bankruptcy or
becoming insolvent; (c) CCP’s ability to successfully execute its
business strategy, including identifying, underwriting, financing,
consummating and integrating suitable acquisitions and investments;
(d) macroeconomic conditions such as a disruption in or lack of
access to the capital markets, changes in the debt rating on U.S.
government securities, default or delay in payment by the United
States of its obligations, and changes in federal or state budgets
resulting in the reduction or nonpayment of Medicare or Medicaid
reimbursement rates; (e) the nature and extent of competition in
the markets in which CCP’s properties are located; (f) the impact
of pending and future healthcare reform and regulations, including
cost containment measures, quality initiatives and changes in
reimbursement methodologies, policies, procedures and rates; (g)
increases in CCP’s borrowing costs as a result of changes in
interest rates and other factors; (h) the ability of CCP’s tenants
to successfully operate CCP’s properties in compliance with
applicable laws, rules and regulations, to deliver high-quality
services, to hire and retain qualified personnel, to attract
residents and patients, and to participate in government or managed
care reimbursement programs; (i) changes in general economic
conditions or economic conditions in the markets in which CCP may,
from time to time, compete for investments, capital and talent, and
the effect of those changes on CCP’s earnings and financing
sources; (j) CCP’s ability to repay, refinance, restructure or
extend its indebtedness as it becomes due; (k) CCP’s ability and
willingness to maintain its qualification as a REIT in light of
economic, market, legal, tax and other considerations; (l) final
determination of CCP’s taxable net income for the year ended
December 31, 2016 and for current and future years; (m) the ability
and willingness of CCP’s tenants to renew their leases with CCP
upon expiration of the leases, CCP’s ability to reposition its
properties on the same or better terms in the event of nonrenewal
or in the event CCP exercises its right to replace an existing
tenant, and obligations, including indemnification obligations, CCP
may incur in connection with the replacement of an existing tenant;
(n) year-over-year changes in the Consumer Price Index and the
effect of those changes on the rent escalators contained in CCP’s
leases and on CCP’s earnings; (o) CCP’s ability and the ability of
its tenants and borrowers to obtain and maintain adequate property,
liability and other insurance from reputable, financially stable
providers; (p) the impact of increased operating costs and
uninsured professional liability claims on CCP’s or its tenants’ or
borrowers’ liquidity, financial condition and results of
operations, and the ability of CCP and its tenants and borrowers to
accurately estimate the magnitude of those costs and claims; (q)
consolidation in the healthcare industry resulting in a change of
control of, or a competitor’s investment in, one or more of CCP’s
tenants or borrowers or significant changes in the senior
management of CCP’s tenants or borrowers; (r) the impact of
litigation or any financial, accounting, legal or regulatory
issues, including government investigations, enforcement
proceedings and punitive settlements, that may affect CCP or its
tenants or borrowers; (s) changes in accounting principles, or
their application or interpretation, and CCP’s ability to make
estimates and the assumptions underlying the estimates, which could
have an effect on CCP’s earnings; and (t) risks related to CCP’s
proposed merger with Sabra, including that the proposed merger will
require significant time, attention and resources, potentially
diverting attention from the conduct of CCP’s business, the
potential adverse effect on CCP’s tenant and vendor relationships,
operating results and business generally resulting from the
proposed merger, and the anticipated and unanticipated costs, fees,
expenses and liabilities relating to the proposed merger. Many of
these factors are beyond the control of CCP and its management.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170815006163/en/
Lori B. WittmanExecutive Vice President and Chief Financial
Officerlwittman@carecapitalproperties.com312.881.4702
Care Capital Properties, Inc. (delisted) (NYSE:CCP)
過去 株価チャート
から 12 2024 まで 1 2025
Care Capital Properties, Inc. (delisted) (NYSE:CCP)
過去 株価チャート
から 1 2024 まで 1 2025
