# WELLTOWER INC.

Summary updated: 2026-10-03T21:58:47.451585Z
Canonical: https://finbar.com/research/companies/welltower

## Overview

Welltower Inc. is a real estate investment trust focused on housing and healthcare-related real estate, with operations spanning seniors housing, triple-net properties and outpatient medical facilities. Its seniors housing offerings include independent and supportive living, assisted living, dementia care and care homes. [1](https://app.finbar.com/go?id=P19448830)[2](https://app.finbar.com/go?id=P104383513)[3](https://app.finbar.com/go?id=P78395912)[4](https://app.finbar.com/go?id=P111401491)[5](https://app.finbar.com/go?id=P16463606)[6](https://app.finbar.com/go?id=P104904899)

The company operates in the United States, the United Kingdom and Canada. Its stated long-term aim is to compound per-share growth through disciplined capital allocation, data science and operating results. [1](https://app.finbar.com/go?id=P19448830)[7](https://app.finbar.com/go?id=P374360) For scale, Welltower reported FY2025 revenue of $10.838 billion and 712 employees at December 31, 2025. [8](https://welltower.com/wp-content/uploads/2026/02/2025-10-K-FINAL.pdf)
[1](https://app.finbar.com/go?id=P19448830)[2](https://app.finbar.com/go?id=P104383513)[3](https://app.finbar.com/go?id=P78395912)[4](https://app.finbar.com/go?id=P111401491)[5](https://app.finbar.com/go?id=P16463606)[6](https://app.finbar.com/go?id=P104904899)[7](https://app.finbar.com/go?id=P374360)[8](https://welltower.com/wp-content/uploads/2026/02/2025-10-K-FINAL.pdf)

## Products & services

Welltower’s senior-living and care offerings span wellness housing, independent and independent supportive living, continuing-care retirement communities, assisted living, memory care, UK care homes, and long-term/post-acute care. Depending on the property, resident services may include dining and meals, housekeeping, linen service, transportation, and social and recreational activities; assisted living adds support with daily activities such as medication management, bathing, dressing, mobility, and eating. Memory-care environments may include enhanced security, specialized design, and memory-enhancing therapies. Long-term/post-acute properties are predominantly skilled nursing facilities, with rehabilitation services that can include cardiac, orthopedic, dialysis, neurological, or pulmonary care. [3](https://app.finbar.com/go?id=P78395912)[5](https://app.finbar.com/go?id=P16463606)[4](https://app.finbar.com/go?id=P111401491)[9](https://app.finbar.com/go?id=P99460119)[10](https://app.finbar.com/go?id=P35555644)[11](https://app.finbar.com/go?id=P45392680)[12](https://app.finbar.com/go?id=P115649762) Welltower’s product overview likewise describes resident offerings across independent living, assisted living, memory care, and wellness housing. [13](https://welltower.com/product-overview/)

Its outpatient medical offering consists primarily of buildings leased to healthcare providers, many of them affiliated with health systems. At year-end 2025, 66% of leases had full expense pass-throughs, 24% partial reimbursement, and 10% no expense reimbursement; leases were non-cancellable and had an eight-year weighted-average remaining term. [6](https://app.finbar.com/go?id=P104904899)[14](https://app.finbar.com/go?id=P41195049) Welltower also describes data and analytics capabilities, including proprietary models used to project financial performance, lease-up, occupancy, and local supply and demand, as well as analytics and benchmarking for seniors-housing facilities. [15](https://app.finbar.com/go?id=P61650436)[16](https://app.finbar.com/go?id=P7341536)

For FY2025, Seniors Housing Operating accounted for 78% of segment revenue, Triple-net for 11%, and Outpatient Medical for 7%. [17](https://app.finbar.com/go?id=P108567200)[18](https://app.finbar.com/go?id=P90424693)[19](https://app.finbar.com/go?id=P93462769)
[3](https://app.finbar.com/go?id=P78395912)[5](https://app.finbar.com/go?id=P16463606)[4](https://app.finbar.com/go?id=P111401491)[9](https://app.finbar.com/go?id=P99460119)[10](https://app.finbar.com/go?id=P35555644)[11](https://app.finbar.com/go?id=P45392680)[12](https://app.finbar.com/go?id=P115649762)[6](https://app.finbar.com/go?id=P104904899)[14](https://app.finbar.com/go?id=P41195049)[15](https://app.finbar.com/go?id=P61650436)[16](https://app.finbar.com/go?id=P7341536)[17](https://app.finbar.com/go?id=P108567200)[18](https://app.finbar.com/go?id=P90424693)[19](https://app.finbar.com/go?id=P93462769)[13](https://welltower.com/product-overview/)

## Geographic presence

Welltower’s operating portfolio is located in the United States, the United Kingdom and Canada. For the six months ended June 30, 2026, revenue was 60.9% from the U.S., 32.0% from the U.K. and 7.1% from Canada; at June 30, 2026, assets were 63.9%, 25.9% and 10.2%, respectively. [20](https://app.finbar.com/go?id=P143943754)[21](https://app.finbar.com/go?id=T16470761) The company reports geographic revenue and assets based on the country where the property is located. [22](https://app.finbar.com/go?id=P143943432)

The company’s principal executive office is in Toledo, Ohio. Its official contacts page also lists offices in Toronto, Ontario, and London, England. [23](https://app.finbar.com/go?id=P143943384)[24](https://welltower.com/contacts/) Welltower’s 2025 Sustainability Report reports 712 employees and identifies offices in the U.S., U.K. and Canada, but does not provide an employee count by country. [25](https://welltower.com/wp-content/uploads/2026/09/Welltower_Sustainability_2025_HR.pdf)
[20](https://app.finbar.com/go?id=P143943754)[21](https://app.finbar.com/go?id=T16470761)[22](https://app.finbar.com/go?id=P143943432)[23](https://app.finbar.com/go?id=P143943384)[24](https://welltower.com/contacts/)[25](https://welltower.com/wp-content/uploads/2026/09/Welltower_Sustainability_2025_HR.pdf)

## Business segments

Welltower reports three business segments in its 2025 Form 10-K. **Seniors Housing Operating** includes wellness housing, independent and independent-supportive living, continuing-care retirement communities, assisted living, Alzheimer’s and dementia care, and U.K. care homes with or without nursing. Its properties focus on support with daily activities, mobility and social engagement. The segment accounted for approximately **78% of 2025 revenue**. [2](https://app.finbar.com/go?id=P104383513) [3](https://app.finbar.com/go?id=P78395912) [17](https://app.finbar.com/go?id=P108567200)

**Triple-net** covers senior-housing property types as well as long-term and post-acute care; properties are generally leased to operators under long-term triple-net leases, with tenants responsible for operating expenses and property costs. It contributed approximately **11% of 2025 revenue**. [5](https://app.finbar.com/go?id=P16463606) [26](https://app.finbar.com/go?id=P75038574) [18](https://app.finbar.com/go?id=P90424693) **Outpatient Medical** primarily consists of outpatient medical buildings leased mainly to healthcare providers, with most of the portfolio affiliated with health systems; it contributed approximately **7% of 2025 revenue**. [6](https://app.finbar.com/go?id=P104904899) [19](https://app.finbar.com/go?id=P93462769)

Welltower’s current-year supplemental materials also present portfolio categories such as Seniors Housing Triple-net and Long-Term/Post-Acute Care. These are an additional portfolio presentation; the 2025 Form 10-K identifies the three segments above as its reportable segments. [2](https://app.finbar.com/go?id=P104383513) [27](https://welltower.com/wp-content/uploads/2026/07/2Q26-Supplement-99.2-FINAL.pdf)
[2](https://app.finbar.com/go?id=P104383513)[3](https://app.finbar.com/go?id=P78395912)[17](https://app.finbar.com/go?id=P108567200)[5](https://app.finbar.com/go?id=P16463606)[26](https://app.finbar.com/go?id=P75038574)[18](https://app.finbar.com/go?id=P90424693)[6](https://app.finbar.com/go?id=P104904899)[19](https://app.finbar.com/go?id=P93462769)[27](https://welltower.com/wp-content/uploads/2026/07/2Q26-Supplement-99.2-FINAL.pdf)

## Company history

Welltower was organized in 1970 as Health Care Fund and adopted the name Health Care REIT, Inc. in 1985. It listed on the New York Stock Exchange in 1992 and passed $1 billion in assets in 1998. [28](https://media.corporate-ir.net/media_files/irol/92/92250/reports/HCN_ar00.pdf)

The company expanded significantly through healthcare-property acquisitions, including 147 Genesis HealthCare properties in 2011 and a 125-property Sunrise Senior Living portfolio acquired in stages during 2012–2013. In 2013, it sold Sunrise’s management company, retaining the real-estate investment rather than the operating business. [29](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2011/2Q11-Earnings-Release.pdf) [30](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2012/3Q12-Earnings-Release.pdf) [31](https://welltower.investorroom.com/2013-07-01-Health-Care-REIT%2C-Inc-Completes-Investment-with-Sunrise-Senior-Living)

Tom DeRosa became CEO in 2014. The company adopted the Welltower name in 2015, then completed its acquisition of Quality Care Properties in 2018 as part of a transaction in which ProMedica acquired HCR ManorCare’s operating business. Shankh Mitra became CEO in 2020. In 2021, Welltower announced the acquisition of Holiday Retirement’s 86-property seniors-housing portfolio and transactions to exit its Genesis Healthcare operating relationship. [32](https://welltower.com/wp-content/uploads/2016/02/Proxy_2015.pdf) [33](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2015/3Q15-Earnings-Release.pdf) [34](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2018/2Q18-Earnings-Release.pdf) [35](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2020/3Q20-Earnings-Release.pdf) [36](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2021/2Q21-Earnings-Release.pdf) [37](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2021/1Q21-Earnings-Release.pdf)
[28](https://media.corporate-ir.net/media_files/irol/92/92250/reports/HCN_ar00.pdf)[29](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2011/2Q11-Earnings-Release.pdf)[30](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2012/3Q12-Earnings-Release.pdf)[31](https://welltower.investorroom.com/2013-07-01-Health-Care-REIT%2C-Inc-Completes-Investment-with-Sunrise-Senior-Living)[32](https://welltower.com/wp-content/uploads/2016/02/Proxy_2015.pdf)[33](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2015/3Q15-Earnings-Release.pdf)[34](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2018/2Q18-Earnings-Release.pdf)[35](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2020/3Q20-Earnings-Release.pdf)[36](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2021/2Q21-Earnings-Release.pdf)[37](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2021/1Q21-Earnings-Release.pdf)

## Sources

1. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P19448830)
2. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P104383513)
3. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P78395912)
4. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P111401491)
5. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P16463606)
6. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P104904899)
7. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P374360)
8. [welltower.com](https://welltower.com/wp-content/uploads/2026/02/2025-10-K-FINAL.pdf)
9. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P99460119)
10. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P35555644)
11. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P45392680)
12. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P115649762)
13. [welltower.com](https://welltower.com/product-overview/)
14. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P41195049)
15. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P61650436)
16. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P7341536)
17. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P108567200)
18. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P90424693)
19. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P93462769)
20. [WELLTOWER INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P143943754)
21. [WELLTOWER INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16470761)
22. [WELLTOWER INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P143943432)
23. [WELLTOWER INC. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P143943384)
24. [welltower.com](https://welltower.com/contacts/)
25. [welltower.com](https://welltower.com/wp-content/uploads/2026/09/Welltower_Sustainability_2025_HR.pdf)
26. [WELLTOWER INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P75038574)
27. [welltower.com](https://welltower.com/wp-content/uploads/2026/07/2Q26-Supplement-99.2-FINAL.pdf)
28. [media.corporate-ir.net](https://media.corporate-ir.net/media_files/irol/92/92250/reports/HCN_ar00.pdf)
29. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2011/2Q11-Earnings-Release.pdf)
30. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2012/3Q12-Earnings-Release.pdf)
31. [welltower.investorroom.com](https://welltower.investorroom.com/2013-07-01-Health-Care-REIT%2C-Inc-Completes-Investment-with-Sunrise-Senior-Living)
32. [welltower.com](https://welltower.com/wp-content/uploads/2016/02/Proxy_2015.pdf)
33. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2015/3Q15-Earnings-Release.pdf)
34. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2018/2Q18-Earnings-Release.pdf)
35. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2020/3Q20-Earnings-Release.pdf)
36. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2021/2Q21-Earnings-Release.pdf)
37. [welltower.com](https://welltower.com/wp-content/uploads/financial-summary/earnings-release/2021/1Q21-Earnings-Release.pdf)

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