American Healthcare REIT Business Summary

American Healthcare REIT, Inc. (AHR) operates a diversified healthcare real estate portfolio, generating revenue through a combination of rental income from triple-net (NNN) leases and operating income from its Senior Housing Operating Properties (SHOP) and Integrated Senior Health Campuses. The company’s business is structured into four primary segments: Integrated Senior Health Campuses (anchored by its majority interest in Trilogy Health Services), SHOP, Outpatient Medical, and Triple-Net Leased properties. As of early 2026, the Trilogy and SHOP segments serve as the primary growth drivers, accounting for approximately 76.9% of consolidated cash net operating income (NOI). AHR competes directly with large-cap healthcare REITs such as Welltower Inc. (WELL), Ventas, Inc. (VTR), Sabra Health Care REIT (SBRA), and Healthpeak Properties (DOC), positioning itself as a high-growth specialist focused on high-acuity care and integrated campus models. The company is currently led by Jeffrey T. Hanson, who serves as Chairman and was appointed Interim Chief Executive Officer and President in February 2026 to oversee operations during a medical leave of absence for co-founder Danny Prosky. The executive leadership team includes Chief Operating Officer Gabriel M. Willhite, Chief Financial Officer Brian S. Peay, and Chief Investment Officer Stefan K. Oh, most of whom share a professional pedigree from American Healthcare Investors (AHI) and the predecessor Griffin-American Healthcare REIT platforms. Following its successful NYSE listing in February 2024, AHR has maintained a strategy of aggressive capital deployment into SHOP assets and campus expansions, supported by a board of directors with deep expertise in healthcare clinical operations and institutional real estate finance.