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ProMedica to exit Welltower SNF joint venture

Toledo, Ohio-based ProMedica plans to transfer the real estate and management of all its skilled nursing facilities with Welltower to the real estate investment company, effective Dec. 19, 2022. 

Services provided by these facilities will be given to new operators, according to a Nov. 7 news release from ProMedica. 

The transfer will alleviate ProMedica's current operating losses in its senior care division. 

ProMedica's skilled nursing facilities not leased through Welltower will remain open and owned by the health system.

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