Lillibridge to Take On New Role at Ventas
- Aug 02, 2017
Todd Lillibridge will be stepping down from his positions as president & CEO of Lilllibridge Healthcare Services. Instead, he will serve as senior advisor to Ventas Inc. chairman & CEO Debra Cafaro come 2018.
Lillibridge, who founded his namesake company more than 25 years ago, has built its portfolio of medical office properties to more than 21 million square feet in over 250 markets in 32 states. He also serves as executive vice president of medical property operations for Ventas, which purchased his company in 2010. He will continue leading Lillibridge until a successor is named.
“This is a thoughtful transition plan that will enable an orderly leadership succession for our highly successful MOB business while maintaining quality of service to our customers and driving Lillibridge Health Services’ continued performance,” Lillibridge told Commercial Property Executive. “Ventas will engage a top executive search firm to help secure an exceptional individual.”
Lillibridge founded his namesake company with the goal of providing comprehensive real estate solutions to high-quality hospitals and health systems and pioneered the MOB business as a unique institutional asset class, and built a nationally respected brand.
In his position at LHS, he led development of the business from a transaction-based real estate company in the early days into a health-care company that knows about real estate.
“We have differentiated ourselves from the get go as a thought leader and trusted advisor, and thanks to the incredible efforts of our people, we continue to have the opportunity to work and partner with a market-leading group of clients around the country providing solutions for everything from leading health systems to smaller community hospitals,” Lillibridge said.
The MOB surge
Since the purchase by Ventas, Lillibridge has increased the MOB business by more than seven times. Overall, the Lillibridge team serves more than 15,000 physician tenants daily and supports 40 million patient visits each year.
As LHS looks for a new leader, the successful candidate will need to be an outstanding results-oriented leader with a proven record of accomplishment and a deep understanding of the healthcare industry.
“Once appointed, I’ll work closely with them to ensure a seamless transition of responsibilities to maintain stability in our business with minimal impact to our customers, partners and employees,” Lillibridge said.