Navigation Links
Care Investment Trust Inc. Announces an Agreement in Principle for CIT Healthcare to Purchase Mortgage Assets and Reduce Management Fee
Date:8/12/2008

NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- Care Investment Trust Inc. (NYSE: CRE) ("Care"), a real estate investment and finance company investing in healthcare-related real estate and commercial mortgage debt, today announced an agreement in principle with its external manager, CIT Healthcare that includes the following terms:

-- Care will receive an option to require CIT Healthcare to purchase up to $125 million of mortgage assets on an individual basis at any time over the next twelve months.

-- The assets will be sold at the fair market value at the time of sale as determined by an independent third party.

-- Care's management fee payable to CIT Healthcare shall be reduced from 1.75% to 0.875% of book equity, decreasing current expenses by approximately $2.5 million per annum.

-- Care will issue 400,000 ten-year warrants at a strike price of $17 per share to CIT Healthcare under its Manager Equity Plan.

F. Scott Kellman, stated, "These important steps ensure that Care will have the liquidity and earnings to accelerate the Company's transformation to a growing healthcare REIT. The Company has an attractive pipeline of investment opportunities which can now be aggressively pursued with the liquidity provided by these new arrangements."

About Care Investment Trust

Care Investment Trust Inc. is a real estate investment and finance company investing in healthcare-related real estate and commercial mortgage debt. It is externally managed and advised by CIT Healthcare LLC, a wholly-owned subsidiary of CIT Group Inc.

Safe Harbor Statement

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements (including statements regarding future financial and operating results) involve risks, uncertainties and contingencies, many of which are beyond Care Investment Trust's control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," "target," and similar expressions are generally intended to identify forward-looking statements. Economic, business, funding market, competitive and/or regulatory factors, among others, affecting Care Investment Trust's businesses are examples of factors that could cause actual results to differ materially from those described in the forward-looking statements in addition to those factors specified in Care Investment Trust's Annual Report on Form 10-K for the year ended December 31, 2007. Care Investment Trust is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

For more information on the company, please visit the company's website at http://www.carereit.com


'/>"/>
SOURCE Care Investment Trust Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. £5 million investment in personalized medicines to cut patient deaths
2. Governor Rendell Announces $2.1 Million Investment in Small Transit Vehicles
3. Exelixis Announces September 18 Webcast of Presentation at the Bank of America 2007 Investment Conference
4. Experts Agree. Ohios Technology Investment Future Looks Bright
5. Susquehanna Health and Siemens Announce Plans to Improve Hospital Facilities Through Technology Investment
6. Russell Investment Group Advises Protalix Biotherapeutics of Index Adjustment
7. Blue Cross of California Invests $10.6 Million in Community Clinics Through the Investment in a Healthy California Program
8. MGT Capital Investments Announces New Commercial Partnerships for Subsidiary Company Medicexchange PLC
9. WallSt.net Updates Investment Community Through All-New Interview With Ingen Technologies
10. WallSt.net Updates Investment Community Through All-New Interview With XTend Medical
11. WallSt.net (www.wallst.net) Updates the Investment Community Through All-New Interviews With XMDC, POSS and TYPE
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... ... March 24, 2017 , ... ... related services to families and business owners across eastern Michigan, is connecting with ... families struggling with financial difficulties. , The Oxford/Orion FISH Food Pantry works to ...
(Date:3/24/2017)... ... 24, 2017 , ... In just two days, Aqua Design ... garden on Kickstarter . Surpassing the $100,000 milestone so quickly,10-times the original ... (and counting) already backing the campaign. , “We are very grateful for ...
(Date:3/24/2017)... ... 2017 , ... Northridge dentists, Dr. Michel Elyson ... apnea and TMJ at their office. TMJ, or temporomandibular joint disorder, has long ... is increasingly being treated at dental offices with newly developed procedures and appliances. ...
(Date:3/24/2017)... ... 24, 2017 , ... The law firm of Enea, Scanlan & Sirignano, ... Westchester resident Lauren C. Enea has joined the firm as an associate attorney. Ms. ... practice in elder law, Medicaid planning and applications, and Wills, Trusts and Estates. ...
(Date:3/24/2017)... Miami, FL (PRWEB) , ... March 24, 2017 ... ... HyGIeaCare Inc. ( http://www.hygieacare.com ) announced their partnership to prep patients for colonoscopy ... Health Endoscopy Centers in 87th Ave., Miami, FL. , The ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... 2017 New England Pediatric Device Consortium (NEPDC) ... including funding and in-kind service towards the commercialization of ... "Making blood draws less traumatic for children could ... experience better.  We,re looking forward to working with Velano ... care for the kids we treat," said Ann-Christine ...
(Date:3/24/2017)... 2017 Research and Markets has announced the addition ... Demand Forecast to 2022" report to their offering. ... The global wound care market was worth ... CAGR of 6.7% during 2016-2022 Among the various wound care ... in the global market in 2015. Among the various applications, surgical wound ...
(Date:3/24/2017)... Research and Markets has announced the addition of the "Dental ... ... markets for Dental Implants in US$ Million. The report provides separate comprehensive ... , Europe , Asia-Pacific , ... Annual estimates and forecasts are provided for the period 2015 through ...
Breaking Medicine Technology: