Care Capital Properties, Inc. (NYSE:CCP) Q4 2015 Earnings Conference Call - Final Transcript

Mar 10, 2016 • 10:00 am ET


Care Capital Properties, Inc. (NYSE:CCP) Q4 2015 Earnings Conference Call - Final Transcript


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Good morning and welcome to the Care Capital Properties Fourth Quarter and Full Year 2015 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Ms. Kristen Benson, Executive Vice President and General Counsel. Please go ahead.

Kristen Benson

Thank you, Nan and good morning. Before we begin please note that any comments made during this conference call that are not historical facts may be considered forward-looking statements within the meaning of the Federal Securities laws. These forward-looking statements are based on management's current beliefs and assumption regarding future events and involve various risks and uncertainties which may cause our actual results to differ materially from expectations.

Please see our reports filed with the Securities and Exchange Commission including our registration statement on Form 10 for a discussion of factors that could cause actual results or events to differ materially from those described in the forward-looking statements. Many of these factors are beyond the control of CCP and its management. The information we provide today speaks as of this date only and management expressly disclaims any obligation to publicly release any updates or revisions to forward-looking statements to reflect changes in expectations.

Quantitative reconciliations between each non-GAAP financial measure discussed on this call and its most directly comparable GAAP measure as well as our supplemental disclosures are available under the Investors Section of our website at

I will now turn the call over to our Chief Executive Officer, Ray Lewis.

Raymond Lewis

Thank you, Kristen. Good morning and welcome to the first earnings call for Care Capital Properties. I'm joined in Chicago by our Chief Financial Officer, Lori Wittman; and our Chief Operating Officer, Tim Doman.

I'll start with a review of our accomplishments and systems and our outlook for 2016 after which Tim will provide an overview of our portfolio, followed by Lori who will discuss the financial results and our 2016 guidance range.

Before I get into our results, I'd like to take a minute to discuss CCP, our vision and our values. When we formed CCP, our vision was to create a different kind of REIT, one that is skilled, focused and invested. Skilled in managing a large diversified portfolio of post acute assets in the dynamic and rapidly changing healthcare environment, focused on delivering shareholder value by allocating capital intelligently and maintaining a strong financial profile and invested in helping our operators to grow and win in our large fragmented and consolidating market.

In addition to our vision, I think it's important to share with you some of the principles and values that are important to us and to tell you what you as shareholders can expect from us. Just like you, the executive and directors of CCP are owners of the company, and we run our business not only as fiduciaries, but as shareholders. That means that