(MENAFN) New York-based Ventas Inc. will buy the USD1.75 billion Ardent Medical Services Inc. and turn its nursing facilities into a self-governed real-estate investment trust, Market Watch reported.
Ventas, the real estate investment trust that owns and leases nursing homes and other health care properties, is planning to isolate Ardent's hospital operations from its real estate procedures.
"The addition of Ardent's platform, which includes high-quality assets with significant market share, creates a strong avenue for growth in the attractive hospital real-estate market," Ventas Chief Executive said.
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