Sabra Announces the Passing of Founding Board Member, Milt Walters

Rhea-AI Summary

Sabra Health Care REIT (Nasdaq: SBRA) announces the passing of founding board member Milt Walters. CEO Rick Matros expressed deep sadness over Walters' death, highlighting his intelligence, optimism, and significant contributions to Sabra and Sun Healthcare Group. Walters played a pivotal role in the emergence of Sun from bankruptcy in 2002 and was instrumental in forming Sabra. His legacy as a kind and insightful leader will be dearly missed by the team at Sabra. The company operates as a self-administered REIT focused on investments in healthcare-related real estate across the U.S. and Canada.

Positive

• Milt Walters' contributions helped establish Sabra and navigate difficult circumstances in the industry.
• His leadership and insights provided significant value to the company's direction.

Negative

• The loss of a founding board member may raise concerns about leadership continuity.
• Potential experience gaps in the board following Walters' passing could impact strategic decisions.

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announces the passing of founding board member, Milt Walters.

Commenting on the passing of Mr. Walters, Sabra’s Chairman and Chief Executive Officer, Rick Matros said, “I am more than saddened to announce that Milt Walters, a founding Board member of Sabra, has passed away. Milt was also a Board member at Sun Healthcare Group, dating back to the emergence of that company from its bankruptcy in 2002, which is when I first joined Sun. We’ve had a long, amazing adventure together taking on the most difficult of circumstances with Sun and then essentially starting Sabra from scratch. Milt was a true gentleman. He was incredibly smart, insightful, optimistic and a fantastic advisor and friend to me over the years. He was truly a light unto the world the way he lived his life. He will be missed by the Board and team at Sabra more than I can express. My heart goes out to his loving wife Carrie, their children and grandchildren. May his memory be a blessing.”

About Sabra

Sabra Health Care REIT, Inc., a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a "REIT") that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720005406/en/

FAQ

What was the impact of Milt Walters on Sabra Health Care REIT?

Milt Walters significantly contributed to Sabra's foundation and strategic direction, especially during challenging periods.

Who is the new board member following Milt Walters' passing?

The press release does not specify a new board member or succession plan following Milt Walters' passing.

What is the future outlook for Sabra Health Care REIT after the loss of a founding member?

The future outlook may be affected by the transition in leadership and the need to fill the experience gap left by Walters.