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Monday, April 6, 2015

CORRECTED-Ventas buys private hospital chain for $1.75 bln, (NYSE: VTR)

Ventas Inc, a healthcare real estate investment trust, is buying Ardent Medical Services Inc for $1.75 billion to expand its hospitals business at a time when more Americans are seeking healthcare services under the Affordable Care Act.Ventas' shares rose as much as 6 percent on Monday after the company also said it would spin off its portfolio of skilled nursing facilities.Privately held Ardent runs 14 hospitals in the United States, with most of them in Texas, Oklahoma and New Mexico - states where enrollments in federal health insurance programs have been high.U.S. hospitals are getting a stronger-than-expected benefit from an influx of low-income patients whose bills are paid by the government's Medicaid program.

Ventas, Inc. is a real estate investment trust. The Trust has seniors housing and healthcare properties in the United States and Canada. Shares of VTR traded higher by 5.01% or $3.67/share to $76.90. In the past year, the shares have traded as low as $60.63 and as high as $81.93. On average, 3068500 shares of VTR exchange hands on a given day and today's volume is recorded at 4659113.