NorthStar Healthcare Announces the Appointment of Ronald J. Jeanneault as Chief Executive Officer and President and Election of James F. Flaherty III as Vice Chairman of the Board
New York, NY (November 12, 2014) – NorthStar Healthcare Income, Inc. (“NorthStar Healthcare” or the “Company”) announced the appointment of Ronald J. Jeanneault as Chief Executive Officer and President of the Company and, in connection therewith, the election of James F. Flaherty III as Vice Chairman of the Board of the Company.
Mr. Jeanneault has been a key member of management for NorthStar’s healthcare platform, having served as Executive Vice President and Head of Asset Management of both NorthStar Healthcare and the healthcare investment division of NorthStar Realty Finance Corp. (“NorthStar Realty,” and together with NorthStar Healthcare, “NorthStar”) since March 2012. He has been responsible for the overall management of NorthStar’s healthcare real estate investment portfolio, including the implementation of development and expansion projects across all of NorthStar’s healthcare assets. During Mr. Jeanneault’s tenure, NorthStar’s combined healthcare assets under management have grown significantly, from $559 million in 2012 to over $6.3 billion today, including assets currently under contract.
From June 1999 until January 2012, Mr. Jeanneault served in various positions at Sunrise Senior Living, Inc., an NYSE-listed senior care provider serving nearly 40,000 residents in communities in the United States, Canada and the United Kingdom, including Senior Vice President and Co-Head of Operations. From July 1994 to June 1999, Mr. Jeanneault was the Director of Residential and Outpatient Programs for the Kennedy Krieger Institute at the Johns Hopkins Medical Institutions. Prior to 1994, Mr. Jeanneault spent four years with New Medico Health System, a private and for profit post-acute provider of brain injury rehabilitation services.
Daniel R. Gilbert, Executive Chairman of NorthStar Healthcare, commented, “We could not be more pleased to announce Ron Jeanneault’s appointment as Chief Executive Officer and President of NorthStar Healthcare. Ron has been instrumental in the success of the Company and in executing its business plan. Ron’s reputation and background in the healthcare industry are best in class and he brings to this role the experience and discipline that will allow the Company to continue to thrive under his leadership. I have worked closely with Ron for a long time and am confident that he is well suited for this role and will drive a tremendous amount of value for our shareholders.”
Mr. Jeanneault added, “I am extremely excited for the opportunity to lead NorthStar Healthcare. The Company is well positioned to take advantage of a compelling senior housing and healthcare investment environment and I look forward to working with Jay and the rest of the NorthStar team as we continue to invest capital and manage a high-quality, diversified portfolio of equity and debt healthcare real estate investments.”
As Vice Chairman, Jay Flaherty will continue to serve NorthStar Healthcare as a director and member of the investment committees of NorthStar Healthcare’s advisor and sponsor. Mr. Gilbert commented, “I am also very excited about Jay’s election as Vice Chairman, as this position will allow us to continue to receive the tremendous benefits of his advice and counsel, which are unrivaled in the healthcare industry, while allowing him to concentrate on continuing to drive the unique institutional deal flow that he and his team have been providing to the Company, which sets us apart in the market.”