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Cision Canada
01-07-2025
- Business
- Cision Canada
DRI Healthcare Announces Closing of Internalization Transaction
TORONTO, July 1, 2025 /CNW/ - DRI Healthcare Trust (TSX: (TSX: DHT.U) ("DRI Healthcare") today announced that it has completed its previously announced transaction to internalize its investment management function. "We are excited to complete this transaction and begin our next chapter as one integrated organization," said Gary Collins, Executive Chair of DRI Healthcare. "We believe that our new structure will lead to better strategic alignment of interests with unitholders and stronger governance with greater transparency, ultimately benefitting all stakeholders." "We have a strong and dedicated team, now entirely under the DRI Healthcare banner, aligned to invest in high-quality assets and build an industry leading portfolio," said Ali Hedayat, Chief Executive Officer of DRI Healthcare. "With a robust pipeline of strong growth prospects coupled with the newly reduced fee structure, we anticipate enhanced value generation as we continue growing the business over the long term." Transaction Terms As a result of the transaction, the management agreement with DRI Capital Inc. ("DRI Capital") was terminated in exchange for a $48 million termination payment (plus accrued management and performance fees), and the Trust internalized the manager function by acquiring the relevant assets of DRI Capital for a purchase price of $1 million. As a result of the transactions contemplated by the asset purchase agreement, the employees of DRI Capital also transitioned to a Trust subsidiary. DRI Capital also agreed to indemnify the Trust and its affiliates in respect of, among other things, damages relating to the previously disclosed irregularities related to certain alleged consulting and other expenses charged to DRI Healthcare. The transaction was recommended for approval by a special committee of the board composed of independent trustees (the "Special Committee"). In recommending the transaction, the Special Committee evaluated a number of alternatives, including maintaining the status quo, terminating the management agreement for cause, replacing DRI Capital with a new third-party manager, privatizing the Trust, and implementing an internalization transaction. About DRI Healthcare DRI Healthcare is a pioneer in global pharmaceutical royalty monetization. Since our founding in 1989, we have deployed more than $3.0 billion, acquiring more than 75 royalties on 45-plus drugs, including Eylea, Keytruda, Orserdu, Remicade, Spinraza, Stelara, Vonjo and Zytiga. DRI Healthcare's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol " and in U.S. dollars under the symbol "DHT.U". To learn more, visit or follow us on LinkedIn. Caution concerning forward-looking statements This news release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information can generally be identified by the use of words such as "expect", "continue", "anticipate", "intend", "aim", "plan", "believe", "budget", "estimate", "forecast", "foresee", "close to", "target" or negative versions thereof and similar expressions. Some of the specific forward-looking information in this news release may include, among other things, statements regarding the Trust's ability to execute on its strategy, the internalization of the Trust's manager and the terms and conditions, benefits and the value to be provided to unitholders. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust's control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk that the internalization of the Trust's manager will not generate the levels of anticipated benefits for the Trust and its unitholders, and those additional risks and uncertainties that are disclosed in the Trust's most recent annual information form and under "Risk Factors" in the Trust's Management's Discussion and Analysis. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statements in this press release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance or achievements of the Trust could differ materially from the results expressed in, or implied by, any forward-looking statements. All forward-looking information in this news release speaks as of the date of this news release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust's filings with securities regulators, including its latest annual information form and Management's Discussion and Analysis. These filings are also available at the Trust's website at
Cision Canada
09-06-2025
- Business
- Cision Canada
DRI Healthcare Trust Announces Appointment of Annalisa King to Board of Trustees and as Chair of the Audit Committee
– Adds extensive expertise in audit, risk and financial strategy – TORONTO, June 9, 2025 /CNW/ - DRI Healthcare Trust (TSX: (TSX: DHT.U) ("DRI" or "the Trust") today announced Annalisa King has been appointed as an independent member and chair of the audit committee of the Trust's board of trustees effective immediately. Ms. King is the chair of the board for Vancouver Airport Authority and an experienced corporate director serving on three TSX public company boards. She is the chair of the audit committee at both Saputo Inc. and The North West Company Inc. and is the chair of the compensation committee at First Capital Real Estate Investment Trust. In addition to her board work, Ms. King is the National Academic Director of the Board Oversight of Strategy course at the Institute of Corporate Directors. Ms. King was the Senior Vice President and Chief Financial Officer of Best Buy Canada Ltd. from 2008 to 2016, where, in addition to her finance responsibilities, she also led the information technology, ecommerce technology, cyber security, legal and real estate functions. Recognized in 2012 as the British Columbia CFO of the Year by Business in Vancouver, Ms. King is one of Canada's most respected senior business executives. She received the award for Significant Board Contribution by the Association of Women in Finance in 2019 and was inducted into the Canada's Most Powerful Women: Top 100 Hall of Fame™ in 2010. Her dedication to leadership has earned her a reputation as a dynamic business thought-leader in the areas of corporate finance and business transformation. "On behalf of the Trust and my fellow trustees, I am very pleased to welcome Annalisa King to the board," said Gary Collins, the Trust's Chief Executive Officer and Chairman. "Annalisa's extensive audit, risk and financial experience provides a strong addition to the board. I look forward to working with her on behalf of our unitholders." With the addition of Ms. King, the Trust's board is now made up of eight members with backgrounds in the areas of pharmaceuticals, government, business, finance, law, cybersecurity and governance, all critical to the continued growth and prosperity of the Trust. The Trust is managed by DRI Capital Inc., a pioneer in global pharmaceutical royalty monetization. Since its initial public offering in 2021, the Trust has deployed more than $1.0 billion, acquiring more than 25 royalties on 20-plus drugs, including Eylea, Orserdu, Omidria, Spinraza, Stelara, Vonjo, Zejula and Zytiga. The Trust's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol " and in U.S. dollars under the symbol "DHT.U". To learn more, visit or follow us on LinkedIn.
Yahoo
09-06-2025
- Business
- Yahoo
DRI Healthcare Trust Announces Appointment of Annalisa King to Board of Trustees and as Chair of the Audit Committee
– Adds extensive expertise in audit, risk and financial strategy – TORONTO, June 9, 2025 /CNW/ - DRI Healthcare Trust (TSX: (TSX: DHT.U) ("DRI" or "the Trust") today announced Annalisa King has been appointed as an independent member and chair of the audit committee of the Trust's board of trustees effective immediately. Ms. King is the chair of the board for Vancouver Airport Authority and an experienced corporate director serving on three TSX public company boards. She is the chair of the audit committee at both Saputo Inc. and The North West Company Inc. and is the chair of the compensation committee at First Capital Real Estate Investment Trust. In addition to her board work, Ms. King is the National Academic Director of the Board Oversight of Strategy course at the Institute of Corporate Directors. Ms. King was the Senior Vice President and Chief Financial Officer of Best Buy Canada Ltd. from 2008 to 2016, where, in addition to her finance responsibilities, she also led the information technology, ecommerce technology, cyber security, legal and real estate functions. Recognized in 2012 as the British Columbia CFO of the Year by Business in Vancouver, Ms. King is one of Canada's most respected senior business executives. She received the award for Significant Board Contribution by the Association of Women in Finance in 2019 and was inducted into the Canada's Most Powerful Women: Top 100 Hall of Fame™ in 2010. Her dedication to leadership has earned her a reputation as a dynamic business thought-leader in the areas of corporate finance and business transformation. "On behalf of the Trust and my fellow trustees, I am very pleased to welcome Annalisa King to the board," said Gary Collins, the Trust's Chief Executive Officer and Chairman. "Annalisa's extensive audit, risk and financial experience provides a strong addition to the board. I look forward to working with her on behalf of our unitholders." With the addition of Ms. King, the Trust's board is now made up of eight members with backgrounds in the areas of pharmaceuticals, government, business, finance, law, cybersecurity and governance, all critical to the continued growth and prosperity of the Trust. About DRI Healthcare Trust The Trust is managed by DRI Capital Inc., a pioneer in global pharmaceutical royalty monetization. Since its initial public offering in 2021, the Trust has deployed more than $1.0 billion, acquiring more than 25 royalties on 20-plus drugs, including Eylea, Orserdu, Omidria, Spinraza, Stelara, Vonjo, Zejula and Zytiga. The Trust's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol " and in U.S. dollars under the symbol "DHT.U". To learn more, visit or follow us on LinkedIn. SOURCE DRI Healthcare Trust View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
DRI Healthcare Trust Announces Voting Results of AGM
TORONTO, May 13, 2025 /CNW/ - DRI Healthcare Trust (TSX: (TSX: DHT.U) ("DRI" or "the Trust") is pleased to announce results of voting at its annual general meeting ("AGM") of unitholders held on May 13, 2025. All of the nominees for election as trustees of the Trust referred to in its management information circular dated March 31, 2025 were elected to serve as trustees for the ensuing year, and Deloitte LLP was reappointed as auditors of the Trust. Election of Trustees Voting results for the election of each trustee were as follows: Trustee Votes "for" as a percentage of votes cast for or withheldfor the trustee Votes "withheld" as a percentage of votes cast for or withheld for the trustee Gary Collins 88.19 % 11.81 % Ali Hedayat 90.22 % 9.78 % Kevin Layden 90.13 % 9.87 % Athana Mentzelopoulos 99.75 % 0.25 % Paul Mussenden 88.65 % 11.35 % Poonam Puri 89.58 % 10.42 % Tamara Vrooman 88.26 % 11.74 % Appointment of Auditors Unitholders also voted in favour of reappointing Deloitte LLP as auditors of the Trust and authorizing the board of trustees to fix their remuneration (95.75% in favour). About DRI Healthcare Trust The Trust is managed by DRI Capital Inc., a pioneer in global pharmaceutical royalty monetization. Since its initial public offering in 2021, the Trust has deployed more than $1.0 billion, acquiring more than 25 royalties on 20-plus drugs, including Eylea, Orserdu, Omidria, Spinraza, Stelara, Vonjo, Zejula and Zytiga. The Trust's units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol " and in U.S. dollars under the symbol "DHT.U". To learn more, visit or follow us on LinkedIn. SOURCE DRI Healthcare Trust View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
