Ventas, Inc. is a real estate investment trust (REIT) focused on delivering strong, sustainable shareholder returns by enabling exceptional environments that benefit a large and growing aging population. The company's portfolio includes senior housing communities, outpatient medical buildings, research centers, hospitals and healthcare facilities located in North America and the United Kingdom. Ventas operates through three reportable business segments: senior housing operating portfolio (SHOP), outpatient medical and research portfolio, and triple-net leased properties. The company primarily invests in real estate assets through wholly-owned subsidiaries and other co-investment entities. Ventas aims to enhance shareholder value by delivering consistent, superior total returns through a strategy of generating reliable and growing cash flows, maintaining a portfolio of high-quality assets that are unified in serving the large and growing aging population and preserving financial strength, flexibility and liquidity.

• Employees: 486 (as of December 31, 2023)
• Geographic Footprint: North America and the United Kingdom
• Headquarters: Chicago, Illinois
• Founded: 1999
• Number of locations/facilities: Approximately 1,400 properties (including properties classified as held for sale)
• Revenue: $4.5 billion (FY2023)
• Key Subsidiaries/Brands: Ventas Investment Management (VIM), Lillibridge

• CEO: Debra A. Cafaro
• CFO: Robert F. Probst
• Senior Vice President, Chief Accounting Officer and Controller: Gregory R. Liebbe

Debra A. Cafaro has served as CEO since 1999.

• Annual Revenue: $4.5 billion (FY2023)
• Net Loss Attributable to Common Stockholders: $(41.0) million
• Total Assets: $24.7 billion
• Key Financial Highlights: NOI was $1.9 billion.

Ventas' portfolio includes:

• Senior Housing Communities: Independent living, assisted living, memory care and continuing care retirement communities.
• Outpatient Medical Buildings and Research Centers: Multi-tenant properties leased to health systems and medical practices, and laboratory and office space for universities and research organizations.
• Triple-Net Leased Properties: Senior housing, skilled nursing facilities, long-term acute care facilities, and inpatient rehabilitation facilities leased to tenants under triple-net or absolute-net leases.

Ventas operates through three reportable business segments:

• Senior Housing Operating Portfolio (SHOP): 37% of total NOI
• Outpatient Medical and Research Portfolio: 30% of total NOI
• Triple-Net Leased Properties: 31% of total NOI
• Non-Segment: 2% of total NOI

Ventas aims to enhance shareholder value by delivering consistent, superior total returns through a strategy of generating reliable and growing cash flows, maintaining a portfolio of high-quality assets that are unified in serving the large and growing aging population and preserving financial strength, flexibility and liquidity. The company's strategic initiatives include:

• Generating reliable and growing cash flows from its portfolio.
• Maintaining a portfolio of high-quality assets unified in serving the large and growing aging population.
• Preserving financial strength, flexibility and liquidity.

Ventas operates in the real estate industry, specifically focusing on healthcare and senior housing. Key market trends include:

• Growing demand for senior housing due to an aging population.
• Increasing healthcare spending and demand for outpatient medical services.
• Technological advancements impacting healthcare delivery.

Ventas competes with publicly traded, private and non-listed healthcare REITs, real estate partnerships, healthcare providers and other investors. The company's market position is influenced by its ability to identify and capitalize on investment opportunities, negotiate favorable transaction terms and access capital.

• Market Risks: Macroeconomic trends including rising labor costs, inflation, and interest rates may adversely affect the company.
• Operational Risks: The company's reliance on third-party managers and tenants, and the potential for operational risks, liabilities and claims that could affect the company's ability to generate revenues.
• Financial Risks: The company's significant amount of outstanding indebtedness and dependence on access to the capital markets.
• Regulatory Risks: The company and its tenants are subject to extensive healthcare laws and regulations, and failure to comply could result in penalties.
• REIT Status Risks: Loss of REIT status would have significant adverse consequences.