Core Viewpoint - HMS Networks AB has entered into a binding agreement to acquire PEAK-System Technik GmbH for EUR 69 million, enhancing its position in industrial communication solutions, particularly in the automotive sector [1][2]. Acquisition Summary - The acquisition is valued at EUR 69 million (approximately SEK 780 million) on a cash and debt-free basis [2]. - PEAK-System reported sales of about EUR 25 million for the twelve-month period ending September 30, 2024, with an adjusted EBITDA margin of approximately 30% [7]. - The acquisition is expected to close on November 1, 2024, subject to closing conditions [2]. - Financing for the acquisition will come from existing and new credit facilities, including a EUR 30 million term loan [8]. Company Overview - PEAK-System is a German company specializing in industrial communication solutions, offering both hardware and software, particularly for the automotive industry [3][4]. - The company has been operational since 1999 and employs around 50 people, with sales distributed approximately 50% in Europe, 25% in Asia, and 25% in the US [4]. Strategic Rationale - The acquisition will strengthen HMS' position in communication solutions for advanced engineering tools, testing, and control in automotive, medical, and transportation sectors [5]. - There are expected synergies between HMS' Business Unit Ixxat and PEAK-System, enhancing product development and cross-selling opportunities [5][6]. Financial Implications - Transaction and integration costs are anticipated to be around SEK 10 million, impacting the financials in 2024 and 2025 [7]. - The acquisition is projected to be accretive to HMS' earnings per share from the completion date, excluding non-cash amortization impacts [2][8].

Core Viewpoint - Healthpeak Properties, Inc. has experienced a significant stock price increase of 31% over the past six months, outperforming the industry growth of 9.5% [1] Company Performance - The company reported second-quarter 2024 funds from operations (FFO) as adjusted per share of 45 cents, exceeding the Zacks Consensus Estimate by one cent, driven by better-than-expected revenues and growth in same-store cash net operating income [3] - Healthpeak's continuing care retirement community (CCRC) portfolio is benefiting from rising healthcare expenditures among senior citizens, with occupancy in this portfolio reaching 85.4%, an increase of 20 basis points sequentially [5] Market Position and Strategy - Healthpeak is strategically positioned in high barrier-to-entry markets in the U.S. with a diversified portfolio of healthcare real estate assets, including lab and outpatient medical facilities [2][6] - The company is focusing on portfolio repositioning by reallocating capital from non-core assets to enhance its lab and outpatient medical asset holdings [6] Industry Trends - Increasing life expectancy and growth in biopharma drug development are driving demand for lab real estate, with expectations of higher healthcare spending by research institutes due to advancements in artificial intelligence and machine learning [4] - The anticipated rise in the senior citizen population will further increase healthcare expenditures, benefiting Healthpeak's CCRC portfolio [5] Financial Health - Healthpeak maintains a robust balance sheet, exiting the second quarter of 2024 with approximately $3.08 billion in liquidity and a net debt-to-adjusted EBITDAre ratio of 5.2X, supported by favorable long-term credit ratings [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-08895 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $1.00 par v ...

Financial Performance - Net income for Q2 2024 was $145.9 million, or $0.21 per share, compared to $51.8 million, or $0.09 per share in Q2 2023[8] - Nareit FFO for Q2 2024 was $318.6 million, or $0.44 per share, compared to $247.8 million, or $0.45 per share in Q2 2023[8] - Total revenues for Q2 2024 reached $695.5 million, a 27.4% increase from $545.4 million in Q2 2023[35] - Rental and related revenues increased to $546.8 million, up 33.3% from $410.0 million year-over-year[35] - Net income attributable to Healthpeak Properties, Inc. for the first half of 2024 was $152.7 million, compared to $170.9 million in the same period of 2023, reflecting a decrease of 10.7%[35] - Earnings per common share (diluted) for Q2 2024 was $0.21, compared to $0.09 in Q2 2023, representing a 133.3% increase[35] - Total costs and expenses for the first half of 2024 were $1.3 billion, a significant increase from $972.7 million in the same period of 2023[35] - The company reported a gain on sales of real estate of $122.0 million in Q2 2024, compared to $4.9 million in Q2 2023[35] Guidance and Projections - Healthpeak increased its full-year 2024 diluted earnings guidance to a range of $0.27 – $0.31 per share[7] - Diluted earnings per common share increased from $0.16 – $0.20 to $0.27 – $0.31[30] - The company projects diluted earnings per common share for FY 2024 to be between $0.27 and $0.31, an increase from the previous guidance of $0.16 to $0.20[40] - The projected diluted Nareit FFO per common share for FY 2024 is $1.59 to $1.63, compared to the previous range of $1.56 to $1.60[40] - Total year-over-year merger-combined same-store cash (adjusted) NOI growth is expected to be between 2.75% and 4.25%[40] Shareholder Returns - A quarterly cash dividend of $0.30 per share was declared, to be paid on August 16, 2024[24] - Healthpeak repurchased 4.6 million shares at a weighted average share price of $19.09 for a total of $88 million during Q2 2024[19] Asset Management - Year-to-date, Healthpeak has closed on approximately $1.2 billion of asset sales at a blended trailing cash capitalization rate of approximately 6.5%[17] - Total assets as of June 30, 2024, amounted to $20,179,708,000, compared to $15,698,850,000 as of December 31, 2023[34] - Total liabilities increased from $8,773,980,000 to $10,760,937,000[34] - Total stockholders' equity increased from $6,350,446,000 to $8,757,498,000[34] Operational Efficiency - The net debt to adjusted EBITDA ratio was 5.2x for the quarter ended June 30, 2024[7] - Interest expense rose to $74.9 million in Q2 2024, up 52.5% from $49.1 million in Q2 2023[35] - Depreciation and amortization expenses increased to $283.5 million in Q2 2024, up 43.3% from $197.6 million in Q2 2023[35] - Operating expenses were reduced by 4%, contributing to improved profitability[37] Development and Expansion - Healthpeak is focused on integrating operations and realizing synergies from the merger with Physicians Realty Trust[31] - The company has 10 development projects in process with a total estimated cost of $406.041 million and a projected stabilized cash yield ranging from 5.50% to 9.25%[57] - The company plans to allocate $600 million to $700 million for development, redevelopment, and revenue-enhancing capital expenditures in FY 2024[40] - The company completed dispositions totaling $541.367 million in the first half of 2024, with a capitalization rate of 6.1%[54] Market Position and Strategy - The company is exploring potential acquisitions to enhance its product offerings and market presence[37] - A new strategic partnership has been established, expected to generate an additional $200 million in revenue[37] - Market expansion efforts are underway, targeting an increase in market share by 5% in key regions[37] User and Customer Engagement - User data showed an increase of 81 million active users, representing a growth of 12% compared to the previous quarter[37] - Customer satisfaction ratings improved by 15%, reflecting the positive impact of recent service enhancements[44] Financial Structure - The leverage ratio is at 36%, well below the requirement of no greater than 60%, and the fixed charge coverage ratio stands at 4.6x, exceeding the minimum requirement of 1.50x[46] - As of June 30, 2024, total liquidity is $3,081.886 million, consisting of cash and cash equivalents of $106.886 million and availability under the credit facility of $3,000 million[48] - The company's credit ratings are Baa1 (Stable) from Moody's and BBB+ (Stable) from S&P Global[49] Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between $5.5 billion and $6 billion, indicating a potential growth of 10% to 20%[37] - Future guidance suggests a revenue growth target of 10% for the next fiscal year, driven by strategic initiatives and market expansion[1]

AUSTIN, Texas, June 3, 2024 /PRNewswire/ -- An affiliate of Peak Rock Capital ("Peak Rock"), a leading middle-market private equity firm, announced today that it has completed the previously announced acquisition of the dental segment ("HuFriedyGroup" or the "Company") of STERIS plc (NYSE:STE) ("STERIS"). Founded in 1908, HuFriedyGroup is a leading global manufacturer of high-quality instruments, infection prevention products, instrument management systems, and conscious sedation products for the dental ind ...

WALTHAM, Mass. and BOULDER, Colo., May 23, 2024 (GLOBE NEWSWIRE) -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced positive updated lead-in data from the company's ongoing Phase 3 PEAK trial evaluating the selective and potent KIT mutant inhibitor, bezuclastinib, in combination with sunitinib, in patients with Gastrointestinal Stromal Tumors (GIST). The data will be presented in a poster presentatio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-08895 Healthpeak Properties, Inc. (Exact name of registrant as specified in its charter) 4600 South Syracuse S ...

Financial Performance - Net income for Q1 2024 was $6.5 million, or $0.01 per share, compared to $117.7 million, or $0.22 per share in Q1 2023[10] - Nareit FFO for Q1 2024 was $162.2 million, or $0.27 per share, down from $230.4 million, or $0.42 per share in Q1 2023[10] - AFFO for Q1 2024 was $247.8 million, or $0.41 per share, compared to $209.3 million, or $0.38 per share in Q1 2023[10] - Net income applicable to common shares for Q1 2024 was $6,477,000, a significant decrease from $117,698,000 in Q1 2023[29] - Nareit FFO applicable to common shares for Q1 2024 was $160,588,000, down from $228,101,000 in the same period last year, representing a decline of approximately 29.6%[29] - Diluted Nareit FFO per common share decreased to $0.27 in Q1 2024 from $0.42 in Q1 2023, reflecting a decline of 35.7%[29] - FFO as Adjusted applicable to common shares increased to $275,270,000 in Q1 2024 from $229,541,000 in Q1 2023, marking an increase of approximately 20%[29] - Diluted FFO as Adjusted applicable to common shares for Q1 2024 was $277,480,000, compared to $231,881,000 in Q1 2023, indicating an increase of approximately 19.7%[29] - Adjusted Funds From Operations (AFFO) applicable to common shares for Q1 2024 was $245,436,000, up from $207,659,000 in Q1 2023, representing a 18.1% increase[32] - Diluted AFFO per common share increased to $0.41 in Q1 2024 from $0.38 in Q1 2023, reflecting a 7.9% growth[32] Guidance and Projections - The company increased its full-year 2024 diluted earnings guidance to a range of $0.16 – $0.20 per share[9] - The company projects diluted earnings per common share for FY 2024 to be between $0.16 and $0.20, a significant increase from the previous guidance of $0.07 to $0.13[34] - The guidance for diluted Nareit FFO per common share for FY 2024 is set at $1.56 to $1.60, slightly up from the previous range of $1.54 to $1.60[34] - Total Year-Over-Year Merger-Combined Same-Store Cash (Adjusted) NOI Growth is projected to be between 2.50% and 4.00% for FY 2024, an increase from the prior estimate of 2.25% to 3.75%[34] Mergers and Acquisitions - Year one merger-related synergy forecast increased by $5 million to $45 million following the merger with Physicians Realty Trust[13] - The company anticipates synergies from the merger with Physicians Realty Trust, although specific financial impacts were not detailed[24] Capital Structure and Liquidity - Healthpeak repurchased $100 million of common stock at an average price of $17.11 per share, with $344 million remaining available for share repurchases[17] - The company entered into a new $750 million term loan with a fixed interest rate of 4.5% for five years[18] - Total assets increased to $20,542,040,000 as of March 31, 2024, compared to $15,698,850,000 on December 31, 2023, reflecting a growth of approximately 30.5%[26] - Total liabilities amounted to $10,942,541,000, up from $8,773,980,000, indicating a rise of approximately 24.8%[26] - Total liquidity as of March 31, 2024, is approximately $2.92 billion, including $101.76 million in cash and cash equivalents[42] - The company has a secured debt ratio of 2.3% as of March 31, 2024, indicating strong compliance with financial covenants[41] - The weighted average interest rate on the company's debt is 4.12%[45] Operational Highlights - The company completed property management internalization in 10 markets covering 17 million square feet[9] - The operating portfolio includes 748 properties with a total investment of $21,977,145,000 and real estate revenues of $592,709,000 for Q1 2024[35] - The company has a total of 703,733,446 shares issued and outstanding as of March 31, 2024, compared to 547,156,311 shares previously[26] - The company has a total of 588,100 square feet in development projects in process as of March 31, 2024[51] - The company plans to allocate $600 million to $700 million for development, redevelopment, and revenue-enhancing capital expenditures in FY 2024[34] Market and Tenant Information - The top market by square footage is San Francisco, CA, accounting for 23% of the combined ABR, followed by Boston, MA at 10%[56] - The largest tenant, HCA Healthcare, represents 8.0% of the annualized base rent (ABR), with the top 20 tenants contributing significantly to revenue stability[61] - The annualized base rent per square foot for renewals increased by 3.4% for outpatient medical and 2.6% for lab spaces[63] - The trailing twelve-month retention rate stands at 84.1% for outpatient medical and 77.8% for total[63] - Fixed lease escalators account for 95.2% of leased square feet, with a total escalator rate of 2.9%[64] Risks and Compliance - The company is facing risks related to macroeconomic trends, including inflation and interest rates, which could impact future financial performance[24] - The company has committed to maintaining compliance with environmental, social, and governance requirements, which may affect operational strategies moving forward[24] Development and Future Strategies - The estimated cost to complete development projects is $183 million, with projected stabilized portfolio cash (adjusted) NOI of $42 million[78] - The company is actively pursuing redevelopment projects to reposition properties, which are expected to enhance long-term value[113] - Future growth strategies include market expansion and potential acquisitions to enhance the company's portfolio and market presence[1] Miscellaneous - The company provides Non-GAAP financial measures, with reconciliations and definitions available on their investor relations website[124] - The supplemental report should be read alongside the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for comprehensive financial information[125] - Market and industry data included in the report is based on surveys and publicly available information, though accuracy is not guaranteed[127] - The company maintains a dedicated investor relations contact for further inquiries[128]

Financial Performance - Net income applicable to common shares for 2023 was $304,284, a decrease of 38.9% from $497,792 in 2022[340]. - Nareit FFO applicable to common shares increased to $985,180 in 2023, up 10.0% from $895,166 in 2022[340]. - Diluted FFO as Adjusted applicable to common shares for 2023 was $987,708, reflecting an increase of 3.9% compared to $950,259 in 2022[340]. - AFFO applicable to common shares rose to $840,777 in 2023, a 7.3% increase from $783,702 in 2022[340]. - The company reported real estate-related depreciation and amortization of $749,901 for 2023, up from $710,569 in 2022[340]. - Total adjustments to FFO as Adjusted were $(6,874) in 2023, compared to $45,767 in 2022[340]. - Distributions on dilutive convertible units and other were $9,394 in 2023, slightly down from $9,407 in 2022[340]. - The company reported a loss on sales of depreciable real estate of $(86,463) in 2023, compared to a loss of $(10,422) in 2022[340]. Merger and Acquisition - The company entered into a Merger Agreement on October 29, 2023, with Physicians Realty Trust, where each outstanding common share of Physicians Realty Trust will convert into 0.674 shares of the company's common stock[28]. - The company expects to close the merger by March 1, 2024, subject to customary closing conditions and stockholder approvals[28]. - Following the mergers, legacy Company common stockholders are expected to own approximately 77% of the common stock of the Combined Company, while legacy Physicians Realty Trust common shareholders will own approximately 23%[186]. - The Combined Company anticipates incurring substantial expenses related to the mergers and integration of operations, which could affect expected cost savings[187]. - The integration process may face challenges, including the inability to successfully combine operations and retain key employees, which could hinder the realization of anticipated benefits[188]. - The new board of directors of the Combined Company will include members from Physicians Realty Trust, potentially affecting the business strategy and operating decisions[192]. - The future success of the Combined Company will depend on effectively managing operations and expansion opportunities post-merger[194]. - The anticipated level of indebtedness for the combined company will increase upon completion of the mergers, raising risks associated with debt financing[197]. Portfolio Composition - As of December 31, 2023, the total portfolio adjusted NOI was $1,204,987, with lab properties contributing $617,541 (51.3%), outpatient medical properties $452,725 (37.6%), CCRC $112,511 (9.3%), and other non-reportable segments $22,210 (1.8%)[25]. - The outpatient medical segment includes nine hospitals, with HCA Healthcare, Inc. contributing 23% of segment revenues and 8% of total revenues as of December 31, 2023[42]. - Approximately 90% of lab properties were triple-net leased, with significant tenant concentration in San Francisco (50%), San Diego (23%), and Boston (25%) based on total square feet[39]. - The outpatient medical buildings are primarily multi-tenant properties, with approximately 87% located on or adjacent to hospital campuses and 98% affiliated with hospital systems[41]. - As of December 31, 2023, the company has investments in an unconsolidated joint venture with a sovereign wealth fund that owns 19 senior housing assets[49]. - The properties in the sovereign wealth fund joint venture include independent living and assisted living facilities, catering to various segments of the elderly population[50]. Regulatory and Compliance Risks - Effective January 16, 2024, Medicare and Medicaid nursing facilities must disclose new data about ownership and management, which may complicate compliance efforts for healthcare facility operators[58]. - The company’s tenants and operators are subject to extensive healthcare regulations, which can significantly affect their operations and financial conditions[53]. - Revenue sources for tenants include governmental healthcare programs like Medicare and Medicaid, which are subject to frequent regulatory changes that could adversely impact reimbursement rates[57]. - The healthcare facilities in the company’s portfolio must comply with extensive licensure and certification laws, which can affect their operational capabilities[59]. - Regulatory approvals are required for transfers of senior housing properties, which can delay transactions and negatively impact property performance[150]. - Compliance with the Americans with Disabilities Act and fire safety regulations may necessitate significant capital expenditures, adversely affecting cash flows[151]. - Changes to governmental reimbursement programs, such as Medicare and Medicaid, may adversely affect tenants' ability to meet financial obligations[154]. - Legislative changes regarding federal government operations could negatively impact the liquidity and financial condition of tenants and operators[158]. Market and Economic Conditions - The company faces significant competition from other REITs, investment companies, and institutional investors, which may impact its ability to capitalize on investment opportunities[51]. - Economic conditions and industry changes could negatively impact the demand for lab properties[78]. - Bankruptcy or insolvency of major tenants could delay recovery of outstanding obligations and affect financial performance[85]. - The company is heavily reliant on real estate investments in the healthcare property sector, making it more vulnerable to downturns in this specific sector[89]. - Approximately 67% of the company's lab portfolio, based on gross asset value as of December 31, 2023, is concentrated in California, which is prone to earthquakes and wildfires[105]. - About 69% of the company's Continuing Care Retirement Community (CCRC) portfolio, based on gross asset value as of December 31, 2023, is located in Florida, which is susceptible to hurricanes[105]. - Economic conditions and natural disasters in geographic areas where the company has concentrated investments could materially affect its financial condition[103]. Operational Risks - Rising labor costs and personnel shortages could increase operational costs and affect business capacity[76]. - The company faces risks related to operational disruptions if it cannot transition affected properties, potentially leading to lower occupancy rates and revenues[88]. - The company may be required to fund expenses such as real estate taxes and maintenance costs to preserve property value during tenant transitions[92]. - The company’s ability to maintain hospital and health system client relationships is critical, as failure to do so could result in lost business[97]. - The company faces various class-action lawsuits that could result in significant defense costs and material revenue decreases[107]. - Rising jury verdicts and natural disasters may threaten insurance policy limits, adversely affecting financial condition[108]. - Joint ventures may limit returns and flexibility, with risks including inconsistent investment goals and potential disputes[109]. Financial Strategy and Capital Management - The company maintains a strong investment-grade balance sheet with ample liquidity and long-term fixed-rate debt financing to reduce exposure to interest rate volatility[30]. - The company emphasizes capital recycling through dispositions and redeployment into acquisitions, developments, and redevelopments as part of its investment strategy[37]. - Increased interest rates in 2022 and 2023 may lead to unfavorable financing terms and increased interest costs for variable rate debt[75]. - The company’s insurance coverage may be insufficient to cover losses from natural disasters, particularly in seismically active regions[105]. - The company relies on external capital sources, and unavailability on acceptable terms could adversely affect its ability to meet commitments and grow[140]. - Covenants in debt instruments limit operational flexibility, and breaches could result in adverse actions by creditors[143]. - The market price of the company's common stock has been highly volatile, with fluctuations influenced by various factors including quarterly operating results and market valuations of similar companies[144]. - Adverse changes in credit ratings could lead to higher borrowing costs, making it more difficult to obtain financing or refinance existing obligations[146]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of ESG initiatives as part of its corporate responsibility and aims to increase stockholder value through sustainable practices[67]. - Reported a reduction of 4.2% in Scope 1 and Scope 2 greenhouse gas emissions in 2022 compared to 2021 on a like-for-like basis[70]. - Achieved 4 LEED certifications and 132 new ENERGY STAR certifications in 2023[70]. - The company may incur significant costs in attempting to comply with ESG policies or third-party expectations, which could negatively impact financial results[126]. - Changes in legislation related to climate change could require increased capital expenditures without a corresponding increase in revenue[127]. Debt and Financing - The company's outstanding indebtedness as of December 31, 2023, was approximately $6.9 billion[142]. - Approximately 90% of the company's consolidated debt was fixed rate debt as of December 31, 2023, with a weighted average interest rate of 3.70%[326]. - The company has $142 million of variable rate mortgage debt, with $500 million Term Loan Facilities swapped to fixed rates through interest rate swap instruments[326]. - Increased borrowing costs due to rising interest rates may adversely affect the company's ability to refinance existing debt and conduct investment activities[135]. - The combined company's cash flow may be insufficient to meet required payments on its debt securities or to pay dividends on its common stock or any preferred stock it may issue[198].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-08895 Healthpeak Properties, Inc. (Exact name of registrant as specified in its charter) (State or other j ...