Main navigation HOME ABOUT CAREERS CONTACT TENANT CENTER PROPERTIES Our Journey Exceptional Vision ABOUT HISTORY TEAM CAREERS From the earliest days, there was a clear vision. Todd Lillibridge set out to establish a new niche market that didn’t even have a name: healthcare real estate. Now, Lillibridge Healthcare Services is the largest player in the nation From the start, we wanted Lillibridge to be a healthcare company that focused on real estate, not a real estate company dabbling in healthcare. — TODD W. LILLIBRIDGE The Lillibridge Story SCROLL 1980s In the early 1980s, Todd Lillibridge joined Murdoch & Coll, a firm that owned and operated urban commercial office buildings in Chicago and St. Louis. In 1984, at age 28, Todd made a personal capital investment in the company and became President of Murdoch, Coll & Lillibridge. 1990s Commercial to Healthcare By the early 1990s, the team began to notice that within their commercial office buildings were a fair number of physicians. Turns out, physicians are very desirable tenants because they move so infrequently. Retention was a very important aspect of business success then ... and it still is today. The group found a new direction that would be key to their success: they would build a national business by parlaying their extensive knowledge and experience in commercial real estate into success in the healthcare industry. 2000s Healthcare to Private REIT Sitting at the end of a pier on a lake in Michigan, a concept began to crystallize for Todd. The $1 trillion US healthcare real estate market was highly fragmented. Consolidating this market could change everything! The company was successful at building the business, but it became apparent that short-term property management agreements created a frequent churn that wasn’t helpful for long-term growth. Where was the opportunity for the future? Sitting at the end of a pier on a lake in Michigan, a concept began to crystallize for Todd. He knew the US healthcare real estate market was extremely large (about $1 trillion), highly fragmented (owned by many different entities), and medical office was roughly a third (39%) of that pie, or $300 billion. He also knew healthcare was a smart choice, as demand would only grow as baby boomers aged, and he recognized that healthcare systems owned millions of dollars of real estate. He asked himself a simple question: could the real estate owned by healthcare systems be used to grow their services and build more market share for them? Lillibridge was way ahead of the curve in recognizing that hospitals’ and health systems’ real estate held opportunities for growth if they could just unlock the value from their bricks and mortar. Lillibridge was positioning itself as the leader in a new niche market that didn’t even have a name yet — and it would become an important real estate sector. 2010s Private REIT to Public REIT By the late 2000s, Lillibridge had enjoyed an extraordinary run with its original institutional investors, but with the benefit of experience, it was time to start looking at options. By the late 2000s, Lillibridge had enjoyed an extraordinary run with its original institutional investors, but with the benefit of experience, it was time to start looking at options. At that time, the Lillibridge team had taken the firm to more than $1 billion. During this period, there were many discussions with alternative capital partners, including public healthcare REITs — one of which was Ventas, a leading healthcare REIT in the US. On July 7, 2010, Lillibridge was acquired by and became a wholly-owned subsidiary of Chicago based Ventas, Inc. (NYSE: VTR), an S&P 500 healthcare real estate investment trust (REIT). Together, Ventas and Lillibridge became the market-leading, fully integrated medical office and ambulatory care developer / owner and property manager. This powerhouse combination would help Lillibridge’s clients achieve their strategic and financial objectives during an era of healthcare reform and economic uncertainty. Ventas’s strong balance sheet and access to capital allowed Lillibridge to continue to invest in its existing facilities, quickly and efficiently develop projects without the need for external funding, acquire (monetize) existing healthcare facilities and reduce transaction risks through fast and reliable project execution. Todd W. Lillibridge, founder Todd Lillibridge is an icon in the medical office space. It has been a great privilege to work with him over the years as he led the growth and operations of our world-class medical office franchise with integrity and an unwavering focus on supporting clients, patients and physicians. Todd has an exceptional legacy and we thank him for his countless contributions to our company and our team. Today, the Lillibridge team supports over 15,000 caregivers and 40 million patient visits in our medical buildings each year. — TODD W. LILLIBRIDGE Exceptional Places of Care It's important to understand the fundamental reason our company exists: to create exceptional places of care for healthcare providers and the patients they serve. ABOUT About History Team Careers CONNECT LinkedIn Contact Parent Company: Ventas (312) 408-1370 353 North Clark Street | Suite 3300 Chicago, IL 60654 © 2016-2021 Lillibridge Healthcare Services Inc. All Rights Reserved Terms and ConditionsPrivacy and Security