Global Medical REIT Inc. (NYSE:GMRE) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 09:00 am ET


Global Medical REIT Inc. (NYSE:GMRE) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to Global Medical REIT's First Quarter 2020 Earnings Conference Call. [Operator instructions] Please note, this conference call is being recorded.

I would now like to turn the conference over to your host, Evelyn Infurna. Thank you. You may begin.

Evelyn Infurna

Thank you operator. Good morning everyone, and welcome to the Global Medical REIT, first quarter conference call. On the call today we have Jeff Busch, Chief Executive Officer; Bob Kiernan, Chief Financial Officer; and Alfonzo Leon, Chief Investment Officer. Please note the use of forward-looking statements by the Company on this conference call.

Statements made on this call may include statements which are not historical facts and are considered forward-looking including statements relating to the COVID-19 pandemic and its effect on our and our tenants businesses. The Company intends these forward-looking statements to be covered by Safe Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and is making this statement for the purpose of complying with those Safe Harbor provisions. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond the Company's control including without limitation those contained in the Company's 10-K for the year ended December 31, 2019, and Form 10-Q for the quarter ended March 31, 2020 and its other Securities and Exchange Commission filings. The Company assumes no obligation to publicly updated any forward-looking statements whether as a result of new information, future events or otherwise.

Additionally, on this conference call the Company may refer to certain non-GAAP financial measures such as funds from operations and adjusted funds from operations. You can find a tabular reconciliation of these non-GAAP financial measures to the most currently comparable GAAP numbers in the Company's earnings release and in its filings with the Securities and Exchange Commission. Additional information may be found on the investor relations page of the Company's website at Please keep in mind that we are doing this call remotely given the circumstances, so bear with us if we have any technical difficulties.

I would now like to turn the call over to Jeff Busch, chief executive officer of Global Medical REIT.

Jeffrey Busch

Thank you Evelyn, and welcome to our first-quarter 2020 conference call. Joining me today are Bob Kiernan our chief financial officer; and Alfonzo Leon, our chief investment officer. On behalf of our commpany, I would like to recognize our healthcare and essential workers for their dedication during this challenging time and to extend well wishes for the health and safety of all GMRE stakeholders. At the time our fourth-quarter call in early March, the frequency of headlines featuring the spread of the coronavirus were accelerating.

Within only a few days after the call we recognize that it was likely just a matter of time before the virus would be a disruptive factor in running our day-to-day operations and that we needed to implement our business continuity and contingency plans. As