Exhibit 99.1
F O R I M M E D I A T E R E L E A S E
March 5, 2008
For more information contact:
Mike Crabtree — (419) 247-2800
Scott Estes — (419) 247-2800
HEALTH CARE REIT, INC. ANNOUNCES
PRICING OF 3,000,000 SHARES OF COMMON STOCK
Toledo, Ohio, March 5, 2008...Health Care REIT, Inc. (NYSE:HCN)today announced the pricing of its underwritten public offering of 3,000,000 shares of common stock at $41.44 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares to cover over-allotments, if any. The company estimates that the gross proceeds from this offering will be approximately $124.3 million (or approximately $143.0 million if the underwriters’ over-allotment option is exercised in full).
The company intends to use the net proceeds from this offering to invest in additional health care and senior housing properties. Pending such use, the company intends to use the net proceeds to repay borrowings under its unsecured line of credit. The offering is expected to close on March 10, 2008, subject to customary closing conditions.
Deutsche Bank Securities and UBS Investment Bank are acting as joint bookrunning managers for the offering.
The offering is made pursuant to Health Care REIT’s shelf registration statement on file with the Securities and Exchange Commission. A copy of the prospectus supplement and related prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities, Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, (800) 503-4611, or e-mail at prospectusrequest@list.db.com or UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, New York 10171, (888) 827-7275.
This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Health Care REIT, Inc., with headquarters in Toledo, Ohio, is an equity real estate investment trust that invests across the full spectrum of senior housing and health care real estate, including independent living/continuing care retirement communities, assisted living facilities, skilled nursing facilities, hospitals, long-term acute care hospitals and medical office buildings. Founded in 1970, the company was the first real estate investment trust to invest exclusively in health care facilities. The company also offers a full array of property management and development services. As of December 31, 2007, the company’s broadly diversified portfolio consisted of 638 properties in 38 states. More information is available on the Internet at www.hcreit.com.
This document may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions, it is making forward-looking statements. Forward-looking statements reflect current plans and
