Global Medical REIT Announces Succession Plan: A Seamless Transition for Growth

Global Medical REIT (GMRE), a net-lease medical real estate investment trust (REIT) specializing in acquiring and leasing healthcare facilities to physician groups and regional and national healthcare systems, has announced a succession plan for its CEO position. The plan, effective as of January 1, 2025, involves the transition of current CEO and Chairman of the Board, Jeffrey Busch, to the role of non-executive Chairman, with Lori Wittman appointed as the new Lead Independent Director. This strategic move aims to ensure a seamless transition and maintain the company's focus on high-quality growth and long-term value creation for stockholders.

Under Jeffrey Busch's leadership, GMRE has pursued a strategy of acquiring licensed, state-of-the-art, purpose-built healthcare facilities and leasing them to strong clinical operators with leading market share. This approach has driven the company's portfolio to comprise over 4.8 million square feet leased to premier healthcare providers in their markets. The Board of Directors has expressed confidence in GMRE's portfolio and tenants, as well as the team and infrastructure in place to create value for tenants, communities, and stockholders.

The succession plan is a testament to GMRE's commitment to strong corporate governance and a balanced approach to leadership renewal. By retaining Jeffrey Busch as non-executive Chairman, the company ensures continuity of institutional knowledge and relationships with key stakeholders. Meanwhile, the appointment of Lori Wittman as Lead Independent Director strengthens the governance structure, providing robust independent oversight during the transition period and beyond.

The Board has directed the Nominating and Corporate Governance Committee to conduct a comprehensive search process for a new CEO, with the assistance of an executive search firm. This search aims to identify a successor who can bring a refreshed perspective to the company, execute on a strategy to take advantage of future opportunities, and deliver long-term value for stockholders. The predetermined succession timeline through June 2025 provides appropriate market transparency and operational stability, allowing for a methodical search and smooth transition.

In conclusion, Global Medical REIT's succession plan demonstrates the company's commitment to maintaining a strong focus on high-quality growth, robust governance, and a balanced approach to leadership renewal. By ensuring continuity of institutional knowledge, strengthening the governance structure, and conducting a comprehensive search for a new CEO, GMRE is well-positioned to continue delivering long-term value for stockholders.