SCOTTSDALE, Ariz., Jan. 9, 2020 /PRNewswire/ -- Healthcare
Trust of America, Inc. (NYSE:HTA or the "Company"), announced today
that its Board of Directors has appointed Mr. H. Lee Cooper and Mr. Jay
P. Leupp as new Independent Directors of the Company. In
addition, the Company announced the resignation of current director
Mr. Daniel S. Henson.
Mr. Cooper is a distinguished leader in the healthcare industry,
including roles in healthcare-focused private equity and more than
25 years with the General Electric Company ("GE"). Mr. Cooper is
currently an operating partner at Welsh, Carson, Anderson &
Stowe where he focuses on healthcare investing. Prior to that time,
Mr. Cooper served as a long-time executive at GE, most recently as
the President & CEO of GE Healthcare Systems, U.S. and
Canada, until his recent
retirement from GE. In this role, he oversaw GE Healthcare's core
businesses of Imaging, Ultrasound, Life Care Solutions, Enterprise
Digital Solutions and Services and partnered with care providers,
healthcare systems and governments to improve healthcare quality,
access and affordability.
Mr. Leupp is a long-time REIT veteran, with over 25 years in the
publicly-traded real estate markets. Mr. Leupp is currently the
Managing Director, Senior Portfolio Manager for Lazard Asset
Management LLC in San Francisco,
CA where he has worked since 2011. Prior to that time, Mr.
Leupp had a long career as a REIT equity analyst, including as a
managing director at RBC and Robertson Stephens. Mr. Leupp also
holds an MBA degree from Harvard
University and a Bachelor's degree in accounting from
Santa Clara University. He currently
serves on the Board of Directors of G.W. Williams Company, San
Francisco Catholic Charities, and on the Policy Board of the Fisher
Center for Real Estate at the University of
California, Berkeley.
Additionally, HTA announced today that Daniel S. Henson will be resigning from his
current board seat, effective January 8,
2020 to focus on his board chair roles for portfolio
companies affiliated with the Blackstone Companies. Mr. Henson has
been a valued member of the HTA Board of Directors since 2016 and
was most recently the chairperson for the Company's Risk Management
Committee and a member of the Company's Investment Committee.
"We are proud to welcome Lee and Jay to our team. Lee brings to
the Company a distinguished Fortune 500 public company background,
healthcare experience and relationships, and leadership skills; Jay
has extensive and broad real estate, financial, and capital markets
expertise and has held several board of director and leadership
positions," stated Founder, Chairman and CEO Scott D. Peters. "We believe the addition of
these two individuals will continue to position us as the leading
provider of medical office buildings and allow us to continue to
produce attractive returns for our stockholders. We also want to
thank Dan for his contributions and guidance during his tenure with
the Board."
With the appointment of Mr. Cooper and Mr. Leupp and departure
of Mr. Henson, HTA's board membership will increase to ten total
individuals on the Board of Directors until the 2020 Annual Meeting
of Stockholders. HTA also expects that the newly appointed
directors will be nominated for re-election at the Annual Meeting
in July 2020.
The Board has determined that Mr. Cooper and Mr. Leupp have no
material interests in any transactions with the Company and both
qualify as independent directors under the applicable New York
Stock Exchange, and the Securities and Exchange Commission
requirements.
About HTA
Healthcare Trust of America, Inc. (NYSE:
HTA) is the largest dedicated owner and operator of medical office
buildings in the United States,
comprising approximately 23.7 million square feet of GLA, with
$7.0 billion invested primarily in
medical office buildings as of September
30, 2019. HTA provides real estate infrastructure for
the integrated delivery of healthcare services in highly-desirable
locations. Investments are targeted to build critical mass in
20 to 25 leading gateway markets that generally have leading
university and medical institutions which translates to superior
demographics, high-quality graduates, intellectual talent and job
growth. The strategic markets HTA invests in support a
strong, long-term demand for quality medical office space.
HTA utilizes an integrated asset management platform consisting of
on-site leasing, property management, engineering and building
services, and development capabilities to create complete, state of
the art facilities in each market. This drives efficiencies,
strong tenant and health system relationships, and strategic
partnerships that result in high levels of tenant retention, rental
growth and long-term value creation. Headquartered in
Scottsdale, Arizona, HTA has
developed a national brand with dedicated relationships at the
local level.
Founded in 2006 and listed on the New York Stock Exchange in
2012, HTA has produced attractive returns for its stockholders that
have outperformed the S&P 500 and US REIT index. More
information about HTA can be found on the Company's Website
(www.htareit.com), Facebook, LinkedIn and Twitter.
Forward-Looking Language
This press release contains
certain forward-looking statements. Forward-looking
statements are based on current expectations, plans, estimates,
assumptions and beliefs, including expectations, plans, estimates,
assumptions and beliefs about HTA, stockholder value and earnings
growth.
The forward-looking statements included in this press release
are subject to numerous risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. Assumptions relating to
the foregoing involve judgments with respect to, among other
things, future economic, competitive and market conditions and
future business decisions, all of which are difficult or impossible
to predict accurately and many of which are beyond HTA's
control. Although HTA believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, HTA's actual results and performance could
differ materially and in adverse ways from those set forth in the
forward-looking statements. Factors which could have a
material adverse effect on HTA's operations and future prospects
include, but are not limited to:
- changes in economic conditions affecting the healthcare
property sector, the commercial real estate market and the credit
market;
- competition for acquisition and development of medical office
buildings and other facilities that serve the healthcare
industry;
- economic fluctuations in certain states in which HTA's property
investments are geographically concentrated;
- retention of our senior management team and our ability to
attract and retain qualified key personnel;
- financial stability and solvency of HTA's tenants, including
the ability and willingness of HTA's tenants or borrowers to
satisfy their obligations under their respective contractual
arrangements with us;
- the ability and willingness of HTA's tenants to renew their
leases with us upon expiration of the leases or our ability to
reposition our properties on the same or better terms in the event
of nonrenewal or in the event we exercise our right to replace an
existing tenant;
- fluctuations in reimbursements from third party payors such as
Medicare and Medicaid;
- supply and demand for operating properties in the market areas
in which HTA operates;
- HTA's ability to acquire or develop real properties, and to
successfully operate those properties once acquired or
developed;
- changes in operating expenses of HTA's properties including,
but not limited to, expenditures for property taxes, property and
liability insurance premiums, and changes in utility rates;
- HTA's ability and the ability of our tenants to obtain and
maintain adequate property, liability and other insurance from
reputable, financially stable providers;
- restrictive covenants on certain of HTA's properties subject to
ground leases that may restrict or limit the uses of HTA's
properties and the types of tenants we are able to lease to, and
our resulting ability to attract new tenants;
- the impact from damage to HTA's properties from, or increased
operating costs associated with, catastrophic weather and other
natural events and the physical effects of climate change;
- legislative and regulatory changes, including changes to laws
governing the taxation of REITs and changes to laws governing the
healthcare industry;
- changes in interest rates, including changes as a result of the
potential phasing out of the London Inter-bank Offered Rate
("LIBOR");
- the availability of capital and financing;
- restrictive covenants in HTA's credit facilities;
- changes in HTA's credit ratings;
- HTA's ability to remain qualified as a REIT;
- changes in accounting principles generally accepted in
the United States of America,
policies and guidelines applicable to REITs; and
- the risk factors set forth in HTA's most recent Annual Report
on Form 10-K and in HTA's most recent Quarterly Reports on Form
10-Q.
Forward-looking statements speak only as of the date made.
Except as otherwise required by the federal securities laws, HTA
undertakes no obligation to update any forward-looking statements
to reflect the events or circumstances arising after the date as of
which they are made. As a result of these risks and
uncertainties, readers are cautioned not to place undue reliance on
the forward-looking statements included in this press release or
that may be made elsewhere from time to time by, or on behalf of,
HTA.
Financial Contact:
Robert A. Milligan
Chief Financial Officer
Healthcare Trust of America, Inc.
480.998.3478
RobertMilligan@htareit.com
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SOURCE Healthcare Trust of America, Inc.