American Healthcare REIT Inc., a non-traded real estate investment trust formerly known as Griffin-American Healthcare REIT IV Inc., announced the appointments of Marvin O’Quinn and Valerie Richardson to the company’s board of directors.
AHR says O’Quinn and Richardson bring extensive experience in their respective fields of healthcare and commercial real estate that will complement the experience of the company’s existing board of directors. O’Quinn and Richardson will each serve as independent directors of the company with O’Quinn also serving as a member of the compensation committee and Richardson serving as a member of the nominating and corporate governance committee.
“We are pleased to welcome Marvin O’Quinn and Valerie Richardson to the American Healthcare REIT board,” said Danny Prosky, president, chief executive officer and director. “Marvin and Valerie, proven leaders in their fields, are tremendous additions to our board of directors and will be valuable contributors as we pursue our strategic plan on behalf of our stockholders.”
O’Quinn is an industry veteran of the U.S. healthcare system and since February 2019, O’Quinn served as the president and chief operating officer of CommonSpirit Health. In this role, O’Quinn spearheaded the growth and policy development of a health system with approximately 150,000 employees. From January 2009 to February 2019, O’Quinn served as the senior executive vice president and chief operating officer of Dignity Health, a not-for-profit corporation. Throughout his career, O’Quinn has also held various positions within other hospitals and medical centers in the northwest, including Legacy Emanuel Hospital & Health Center, Willamette Falls Hospital, Valley Children’s Hospital and Harborview Medical Center. Additionally, O’Quinn serves as chairman of the board of directors for Dignity Health Global Education and as a member of the board of directors of First Initiatives Insurance, Ltd., a captive insurance company that serves CommonSpirit Health, and Premier, Inc., (NASDAQ: PINC), a Nasdaq-listed healthcare improvement company.
Richardson has public REIT board experience and industry knowledge in various commercial real estate matters, particularly with respect to the retail sector, to provide valuable insight to the company’s board of directors and management team. Richardson has served as the chief operating officer of ICSC, a professional trade organization with approximately 50,000 members serving the retail marketplaces industry, located in New York, New York, since February 2021. She previously served as the vice president of real estate for The Container Store Inc., located in Coppell, Texas, where she led its real estate team for 20 years from September 2000 until February 2021. Before joining The Container Store Inc., she served as senior vice president of real estate and development for Ann Taylor Inc., where she administered the company’s store expansion strategy for its Ann Taylor and Loft stores. Richardson also served as vice president of real estate and development of Barnes & Noble Inc. Additionally, since 2018, Richardson has served as a member of the board of directors for Kimco Realty Corporation (NYSE: KIM). Since 2004, Richardson has been a member of the board of trustees of ICSC and was elected as ICSC vice-chairperson for the 2017 to 2018 term and as chairperson for the 2018 to 2019 term.
“Our board selected Marvin and Valerie to serve as directors based on their proven track records in the healthcare and real estate industries, respectively,” said Jeff Hanson, chairman of the board of directors. “Marvin has gained an extensive understanding of the healthcare sector through his more than 40-year career, and his valuable industry knowledge will greatly serve our stockholders. Valerie’s more than 40 years of experience as a real estate executive, coupled with her service on the board of a large publicly traded REIT, will bring valuable insight to our board of directors as we continue to grow our company and position ourselves for future success.”
In September 2022, AHR filed a Form S-11 with the SEC, with plans for a proposed underwritten public offering connected with the potential listing of its common stock on the New York Stock Exchange.
American Healthcare REIT oversees a 19.4 million-square-foot portfolio of 312 medical office buildings, skilled nursing facilities and integrated senior health campuses located in 36 states, the United Kingdom and the Isle of Man, in addition to a real estate-related investment. The gross investment value of the portfolio is approximately $4.3 billion.
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