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NHI Announces Retirement of W. Andrew Adams from the Board of Directors

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National Health Investors (NYSE:NHI) announced that W. Andrew 'Andy' Adams will retire as Chairman of the Board effective December 31, 2024, after more than 30 years of leadership. Adams founded the company in 1991 and served as President until February 2009 and CEO until March 2011. Under his leadership, the company has grown its healthcare real estate investment and senior housing operating portfolios to over $3.0 billion in total gross investments across 193 healthcare real estate properties, mortgages and other notes receivable.

National Health Investors (NYSE:NHI) ha annunciato che W. Andrew 'Andy' Adams si ritirerà dalla carica di Presidente del Consiglio di Amministrazione a partire dal 31 dicembre 2024, dopo oltre 30 anni di leadership. Adams ha fondato l'azienda nel 1991 e ha ricoperto la carica di Presidente fino a febbraio 2009 e quella di CEO fino a marzo 2011. Sotto la sua guida, l'azienda ha incrementato i suoi investimenti immobiliari nel settore sanitario e i portafogli operativi di abitazioni per anziani, superando un totale di 3,0 miliardi di dollari in investimenti lordi totali distribuiti su 193 proprietà immobiliari per la salute, mutui e altri crediti.

National Health Investors (NYSE:NHI) anunció que W. Andrew 'Andy' Adams se retirará como Presidente de la Junta a partir del 31 de diciembre de 2024, después de más de 30 años de liderazgo. Adams fundó la empresa en 1991 y se desempeñó como Presidente hasta febrero de 2009 y como CEO hasta marzo de 2011. Bajo su liderazgo, la empresa ha aumentado su inversión en bienes raíces de atención médica y sus carteras de operaciones de vivienda para personas mayores a más de $3.0 mil millones en inversiones brutas totales a través de 193 propiedades de bienes raíces de atención médica, hipotecas y otros notas por cobrar.

내셔널 헬스 인베스터스 (NYSE:NHI)W. Andrew 'Andy' Adams이 2024년 12월 31일부로 이사회 의장직에서 은퇴한다고 발표했습니다. Adams는 30년 이상의 리더십을 가지고 있습니다. Adams는 1991년에 회사를 설립했으며 2009년 2월까지 사장으로 활동했으며 2011년 3월까지 CEO로 재직했습니다. 그의 리더십 아래에서 회사는 헬스케어 부동산 투자 및 노인 주택 운영 포트폴리오를 30억 달러 이상으로 성장시켰으며, 193개의 헬스케어 부동산, 대출 및 기타 채권을 포함하고 있습니다.

National Health Investors (NYSE:NHI) a annoncé que W. Andrew 'Andy' Adams prendra sa retraite en tant que Président du Conseil d'Administration à compter du 31 décembre 2024, après plus de 30 ans de leadership. Adams a fondé l'entreprise en 1991 et a été Président jusqu'en février 2009 et PDG jusqu'en mars 2011. Sous sa direction, l'entreprise a développé ses investissements immobiliers dans le secteur de la santé et ses portefeuilles d'exploitation de logements pour seniors à plus de 3,0 milliards de dollars en investissements bruts totaux à travers 193 propriétés immobilières de santé, hypothèques et autres créances.

National Health Investors (NYSE:NHI) hat bekannt gegeben, dass W. Andrew 'Andy' Adams zum 31. Dezember 2024 als Vorsitzender des Board of Directors zurücktritt, nach mehr als 30 Jahren Führungsarbeit. Adams gründete das Unternehmen 1991 und war bis Februar 2009 Präsident sowie bis März 2011 CEO. Unter seiner Führung hat das Unternehmen sein Portfolio im Bereich Immobilieninvestitionen im Gesundheitswesen und Seniorenwohnanlagen auf über 3,0 Milliarden Dollar an gesamten Bruttoinvestitionen in 193 Immobilien im Gesundheitswesen, Hypotheken und andere Forderungen ausgeweitet.

Positive
  • Company has grown to $3.0 billion in total gross investments
  • Portfolio includes 193 healthcare real estate properties
Negative
  • None.

MURFREESBORO, TN / ACCESSWIRE / November 5, 2024 / National Health Investors, Inc. (NYSE:NHI) announced today that after more than 30 years of leadership, W. Andrew "Andy" Adams has notified the Board of Directors of National Health Investors, Inc. that he plans to retire as Chairman of the Board effective December 31, 2024.

Andy Adams founded the Company in 1991 and has served as Chairman since inception. He served as both President and Chief Executive Officer since the founding and until his retirement as President in February 2009 and as CEO in March 2011. Under his leadership, the Company has grown its diversified healthcare real estate investment and senior housing operating portfolios to over $3.0 billion in total gross investments across 193 healthcare real estate properties, mortgages and other notes receivable.

"On behalf of the Board and all NHI employees, I want to thank Andy for his vision and leadership in the REIT industry and at NHI. We all wish Andy a successful and enjoyable retirement," said Eric Mendelsohn, NHI President and Chief Executive Officer.

About NHI

Incorporated in 1991, National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale, leasebacks, joint-ventures, senior housing operating partnerships, and mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI's portfolio consists of independent living, assisted living and memory care communities, entrance-fee retirement communities, skilled nursing facilities, and specialty hospitals. For more information, visit www.nhireit.com.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's, tenants', operators', borrowers' or managers' expected future financial position, results of operations, cash flows, funds from operations, dividend and dividend plans, financing opportunities and plans, capital market transactions, business strategy, budgets, projected costs, operating metrics, capital expenditures, competitive positions, acquisitions, investment opportunities, dispositions, acquisition integration, growth opportunities, expected lease income, continued qualification as a real estate investment trust ("REIT"), plans and objectives of management for future operations, continued performance improvements, ability to service and refinance our debt obligations, ability to finance growth opportunities, and similar statements including, without limitation, those containing words such as "may", "will", "should", "believes", "anticipates", "expects", "intends", "estimates", "plans", "projects", "likely" and other similar expressions are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. Such risks and uncertainties include, among other things; the operating success of our tenants, managers and borrowers for collection of our lease and interest income; the risk that our tenants, managers and borrowers may become subject to bankruptcy or insolvency proceedings; risks related to the concentration of a significant percentage of our portfolio to a small number of tenants; risks associated with pandemics, epidemics or outbreaks, such as the COVID-19 pandemic, on our operators' business and results of operations; risks related to governmental regulations and payors, principally Medicare and Medicaid, and the effect that changes to laws, regulations and reimbursement rates would have on our tenants' and borrowers' business; the risk that the cash flows of our tenants, managers and borrowers may be adversely affected by increased liability claims and liability insurance costs; the risk that we may not be fully indemnified by our tenants, managers and borrowers against future litigation; the success of property development and construction activities, which may fail to achieve the operating results we expect; the risk that the illiquidity of real estate investments could impede our ability to respond to adverse changes in the performance of our properties; risks associated with our investments in unconsolidated entities, including our lack of sole decision-making authority and our reliance on the financial condition of other interests; risks related to our joint venture investment with Life Care Services for Timber Ridge; inflation and increased interest rates; adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults, or non-performance by financial institutions; operational risks with respect to our SHOP structured communities; risks related to our ability to maintain the privacy and security of Company information; risks related to environmental laws and the costs associated with liabilities related to hazardous substances; the risk of damage from catastrophic weather and other natural or man-made disasters and the physical effects of climate change; the success of our future acquisitions and investments; our ability to reinvest cash in real estate investments in a timely manner and on acceptable terms; competition for acquisitions may result in increased prices for properties; our ability to retain our management team and other personnel and attract suitable replacements should any such personnel leave; the risk that our assets may be subject to impairment charges; our ability to raise capital through equity sales is dependent, in part, on the market price of our common stock, and our failure to meet market expectations with respect to our business, or other factors we do not control, could negatively impact such market price and availability of equity capital; the potential need to refinance existing debt or incur additional debt in the future, which may not be available on terms acceptable to us; our ability to meet covenants related to our indebtedness which impose certain operational limitations and a breach of those covenants could materially adversely affect our financial condition and results of operations; downgrades in our credit ratings could have a material adverse effect on our cost and availability of capital; we rely on external sources of capital to fund future capital needs, and if we encounter difficulty in obtaining such capital, we may not be able to make future investments necessary to grow our business or meet maturing commitments; our dependence on revenues derived mainly from fixed rate investments in real estate assets, while a portion of our debt bears interest at variable rates; our ability to pay dividends in the future; legislative, regulatory, or administrative changes; and our dependence on the ability to continue to qualify for taxation as a real estate investment trust and other risks which are described under the heading "Risk Factors" in Item 1A in our Form 10-K for the year ended December 31, 2024 and under the heading "Risk Factors" in Item 1A in our Form 10-Q for the quarter ended June 30, 2024. Many of these factors are beyond the control of the Company and its management. The Company assumes no obligation to update any of the foregoing or any other forward looking statements, except as required by law, and these statements speak only as of the date on which they are made. Investors are urged to carefully review and consider the various disclosures made by NHI in its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information in the above referenced Form 10-K and Form 10-Q. Copies of these filings are available at no cost on the SEC's web site at https://www.sec.gov or on NHI's web site at https://www.nhireit.com.

Contact:

Dana Hambly, Vice President, Finance & Investor Relations
Phone: (615) 890-9100

SOURCE: National Health Investors



View the original press release on accesswire.com

FAQ

When will W. Andrew Adams retire as Chairman of NHI?

W. Andrew Adams will retire as Chairman of the Board of National Health Investors effective December 31, 2024.

How long has W. Andrew Adams been with NHI?

W. Andrew Adams has been with NHI for more than 30 years, having founded the company in 1991 and serving as Chairman since inception.

What is the current size of NHI's investment portfolio?

NHI's portfolio consists of over $3.0 billion in total gross investments across 193 healthcare real estate properties, mortgages and other notes receivable.

When did W. Andrew Adams step down as CEO of NHI?

W. Andrew Adams stepped down as CEO of NHI in March 2011, having previously retired as President in February 2009.

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