Health Care REIT Inc said it would purchase Canada's HealthLease Properties Real Estate Investment Trust in a deal valued at $950 million, including debt, to expand its presence in senior housing and post-acute care segments.The acquisition is the latest in a series of deals as healthcare real estate companies look to take advantage of rising demand for senior care facilities in a consolidating sector.Analysts said Health Care's offer fairly valued HealthLease.They said chances of a rival bid were slim as it would be difficult to outbid Health Care, one of the largest U.S. healthcare real estate companies.
Health Care REIT, Inc. is a real estate investment trust (REIT). Shares of HCN traded higher by 2.36% or $1.5/share to $65.01. In the past year, the shares have traded as low as $52.43 and as high as $66.76. On average, 2254670 shares of HCN exchange hands on a given day and today's volume is recorded at 822875.
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