Summary
Welltower Inc. (WELL) filed an 8-K/A amendment on September 27, 2018, to provide updated financial information related to the acquisition of Quality Care Properties, Inc. (QCP). This filing includes audited and unaudited financial statements of QCP, as well as pro forma condensed consolidated financial information for Welltower. These documents are crucial for investors to understand the financial impact of the QCP acquisition on Welltower's balance sheet and income statements.
Key Highlights
- 1Filing is an amendment (8-K/A) to previously filed information.
- 2Provides audited consolidated financial statements for Quality Care Properties, Inc. (QCP) as of December 31, 2017.
- 3Includes unaudited consolidated financial statements for QCP for the six months ended June 30, 2018, and the year ended December 31, 2017.
- 4Presents unaudited pro forma condensed consolidated financial information for Welltower Inc., reflecting the impact of the QCP acquisition.
- 5The pro forma information includes a balance sheet as of June 30, 2018, and income statements for the six months ended June 30, 2018, and the year ended December 31, 2017.
- 6This filing is important for assessing the financial performance and position of Welltower post-acquisition of QCP.
Frequently Asked Questions
The primary purpose of this 8-K/A filing is to provide investors with the necessary financial statements of the acquired entity, Quality Care Properties, Inc. (QCP), and pro forma financial information for Welltower Inc. This allows for a comprehensive understanding of the financial implications of the QCP acquisition on Welltower's financial health.
This filing includes the audited consolidated balance sheet of QCP as of December 31, 2017, and the audited consolidated statements of operations, comprehensive loss, equity, and cash flows for the year ended December 31, 2017. It also includes unaudited consolidated balance sheets as of June 30, 2018, and December 31, 2017, along with unaudited statements for the six months ended June 30, 2018 and 2017.
Pro forma financial information represents hypothetical or 'as if' financial statements that combine the financial results of Welltower Inc. and the acquired entity, Quality Care Properties, Inc. (QCP). It is presented to show investors how the combined company would have performed financially had the acquisition already occurred at the beginning of the reported periods, aiding in the assessment of the acquisition's impact.
The audited financial statements of QCP for the year ended December 31, 2017, are incorporated by reference from Part II, Item 8 of QCP's annual report on Form 10-K filed on March 8, 2018 (Exhibit 99.2). The unaudited statements for the six months ended June 30, 2018, and the year ended December 31, 2017, are provided as Exhibit 99.3.