CHICAGO—Ventas Inc. said Monday it had agreed to acquire Ardent Health Services, one of the nation’s 10 largest for-profit hospital operators, for $1.75 billion. Separately, the healthcare REIT announced that its board had approved the spinoff of most of its post-acute care/skilled nursing facility portfolio into a separate, publicly traded company.

VTR’s CEO, Debra A. Cafaro, says the addition of Ardent’s platform, including “high-quality assets with significant market share in three key markets” as well as “a highly-regarded hospital management team,” creates “a strong avenue for growth in the attractive hospital real estate market.” The acquisition will also increase VTR’s diversification by property type and operator.

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