Ventas, a healthcare real estate investment trust based in Louisville, Ky., said two hospital executives have joined its board: Denny Shelton, nonexecutive chairman of Legacy Hospital Partners, and Robert Reed, senior vice president and chief financial officer of Sutter Health.
Shelton, 54, joined the board of Omnicare, a pharmacy services provider based in Covington, Ky., last month. Shelton also joined CCMP Capital Advisors as a senior adviser. CCMP is one of two investors behind Legacy Hospital Partners, Plano, Texas, and also was an investor in a leveraged buyout proposed for Sheltons former company, Triad Hospitals. Community Health Systems, Franklin, Tenn., later acquired Triad for $6.97 billion.
Reed, 55, took his current position at not-for-profit Sutter Health, Sacramento, Calif., in 1997. He joined Sutter and 1990 and held several financial positions, including vice president of finance for Sutters western division. Reed also worked as an investment banker specializing in hospital finance at several financial firms. -- by Vince Galloro