Healthcare Trust, Inc. announces the end of the internalization of management

– The previously announced internalization of management has been completed
– Renamed to National Healthcare Properties, Inc.
– Announces strategic initiatives for future growth

NEW YORK, September 30, 2024–(BUSINESS WIRE)–Healthcare Trust, Inc. (Nasdaq: HTIA / HTIBP) (the “Company”) today announced the successful completion of its previously announced management internalization, marking a pivotal moment in the Company’s evolution. This strategic move is expected to result in annual savings of more than $25 million in general and administrative (G&A) expenses and improve governance and alignment with shareholders as the company evaluates its potential public listing.

As part of the transformation process, the Company is also changing its name to National Healthcare Properties, Inc. to better reflect its strategic vision and continuous pursuit of excellence in the healthcare real estate industry. The company believes this rebranding is consistent with its goal to position itself for long-term growth and value creation for its shareholders.

In connection with the internalization and rebranding, the Company conducted a 4-to-1 reverse stock split to potentially increase the marketability and liquidity of its shares. The reverse stock split is intended to better align the Company’s stock price with industry peers and increase investor interest as National Healthcare Properties, Inc. prepares. for future possibilities.

To further support its strategic initiatives, the Company has engaged BMO Capital Markets Corp. as its financial advisor to assist it in evaluating a potential public listing of its common stock.

The company will continue to be led by Michael Anderson, who was appointed to the board and continues to serve as CEO, and Scott Lappetito, who continues to serve as CFO. The company believes that her strong leadership will lead National Healthcare Properties, Inc. through this exciting new chapter and will position the organization well to capitalize on growth opportunities in the healthcare real estate sector.

“We are pleased to announce the completion of the internalization of our management and the rebranding of our company, National Healthcare Properties, Inc.” – said Michael Anderson. “This is a significant milestone that we believe enhances our operational efficiency, further aligns our management structure with that of our publicly traded partners and positions us for future growth. We look forward to working with BMO Capital Markets as we explore the potential for a public listing of our common stock and continue to build a robust healthcare real estate portfolio.”

About National Healthcare Properties, Inc.

National Healthcare Properties, Inc. (“NHP”) is a publicly registered real estate investment trust focused on acquiring a diversified portfolio of health care properties, with an emphasis on senior housing and ambulatory medical facilities, located in the United States. Additional information about NHP can be found at nhpreit.com.

Important note

Statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that may cause actual results or events will differ materially. The words “anticipates”, “believes”, “expects”, “estimates”, “projects”, “plans”, “intends”, “may”, “will”, “will” and similar expressions are intended to identify forward-looking statements regarding future, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are beyond NHP’s control, which could cause actual results to differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include the potential adverse effects of (i) geopolitical instability resulting from the ongoing military conflict between Russia and Ukraine and Israel and Hamas, including related sanctions and other penalties imposed by the U.S. and the European Union, and the related impact on NHP, NHP’s tenants, NHP’s operators and the global economy and financial markets and (ii) that any potential future acquisitions by NHP are subject to market conditions and the availability of capital and may not be identified or completed on favorable terms, if at all, as well as the risks and uncertainties set forth in Risk Factors in NHP’s Annual Report on Form 10-K for the year ended December 31, 2023 filed March 15, 2024, amended Form 10-K/A filed March December 22, 2024 and all other filings with the Securities Exchange Commission and Exchanges (“SEC”) after such date, as such risks, uncertainties and other important factors may be updated from time to time in NHP’s subsequent filings with the SEC. Further, forward-looking statements speak only as of the date they are made, and NHP undertakes no obligation to update or revise any forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results over time, except as may be necessary obliged by law.

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Communication

For further information please contact:

National Healthcare Properties, Inc.
332-258-8770
[email protected]