Sunrise Senior Living Announces Closing of Its Recapitalization

Chris Winkle Named New CEO

Category:

Monday, April 21, 2014 4:30 pm EDT

Dateline:

MCLEAN, Va.
"We’d like to thank Penny for her service to Sunrise and wish her well in her future endeavors."

MCLEAN, Va.--(BUSINESS WIRE)--Sunrise Senior Living, LLC, announced today the closing of its previously announced recapitalization by Revera Inc. and Health Care REIT, Inc. (NYSE: HCN). Sunrise will continue managing its communities under the Sunrise brand. Sunrise’s board of directors has appointed Chris Winkle, chief operating officer, to lead the company as chief executive officer, effective today. As part of this transaction, Sunrise’s chief executive officer, Penny McIntyre, will transition from her role.

“On behalf of Sunrise’s board of directors, I am pleased to announce Chris’ appointment as CEO. We are excited by the prospect of how this recapitalization positions Sunrise, and believe Chris’ strong background in healthcare and senior living are well suited to expand our business of serving seniors with the best possible care,” said Jeff Lozon, director on Sunrise’s board and former president and chief executive officer of Revera Inc. “We’d like to thank Penny for her service to Sunrise and wish her well in her future endeavors.”

Winkle brings with him 30 years of operational experience in the health services and post-acute care industries, joining Sunrise as COO in September 2013. Prior to Sunrise, he served as CEO at MedQuest, Inc. and, prior to that, as president and CEO of Mariner Health Care, Inc., a long-term health care company with more than 250 skilled nursing facilities in 23 states.

KeyBanc Capital Markets Inc. served as financial advisor on the transaction to Sunrise.

About Sunrise Senior Living

Sunrise Senior Living, a McLean, Va.-based company, employs approximately 29,000 people. As of April 1, 2014, Sunrise operated 290 communities in the United States, Canada and the United Kingdom, with a unit capacity of approximately 26,400 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's disease and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit SunriseSeniorLiving.com.

About Revera Inc.

Revera is a leading provider of seniors’ accommodation, care and services; built on a 50-year history of helping seniors live life to the fullest. With 227 sites across Canada and parts of the U.S., the company’s nearly 30,000 employees work to enhance lives in Revera’s retirement communities, long term care homes, U.S. nursing and rehab centres and through the provision of home health services. Find out more about Revera at reveraliving.com or find us on Facebook and Twitter.

About Health Care REIT, Inc.

Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of seniors housing and health care real estate. The company also provides an extensive array of property management and development services. As of December 31, 2013 the company’s broadly diversified portfolio consisted of 1,199 properties in 46 states, the United Kingdom, and Canada.

 

Contact:

Sunrise Senior Living
Meghan Lublin
Corporate Communications
703-854-0299

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