Exhibit 99.1

Care Capital Properties Reports First Quarter Results

First Quarter 2016 Normalized FFO Totals $0.80 Per Diluted Share

CHICAGO--(BUSINESS WIRE)--May 6, 2016--Care Capital Properties, Inc. (NYSE: CCP) (“CCP”) today announced operating results for the quarter ended March 31, 2016. CCP began operating as an independent, publicly traded company on August 18, 2015, following the completion of its spin-off from Ventas, Inc. (NYSE: VTR) (“Ventas”). The financial results reported for the prior year first quarter represent operating results that have been “carved-out” of Ventas’s consolidated financial statements.

“We are pleased with our strong first quarter results,” CCP Chief Executive Officer Raymond J. Lewis said. “We made progress on each of our strategic objectives, paid an attractive and secure dividend, and maintained a strong balance sheet with excellent liquidity.”

First Quarter Highlights and Recent Events

• Normalized Funds from Operations (“FFO”) for the quarter ended March 31, 2016 was $67 million, or $0.80 per diluted common share. FFO, as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), for the same time period was $64 million, or $0.76 per diluted common share.
• Normalized FFO and NAREIT FFO for the quarter ended March 31, 2015 were $72 million, or $0.86 per diluted common share, and $68 million, or $0.82 per diluted common share, respectively. The decreases in the first quarter of 2016 compared to 2015 are primarily attributable to interest expense, as CCP had no debt prior to the spin-off, partially offset by investments completed in 2015 and contractual rent increases.
• Normalized Funds Available for Distribution (“FAD”) for the quarter ended March 31, 2016 was $64 million, or $0.77 per diluted common share, an increase of 6.6 percent compared to the first quarter of 2015. This increase is primarily attributed to a decrease in routine capital expenditures and transaction costs.
• Net income attributable to CCP for the quarter ended March 31, 2016 was $30 million, or $0.36 per diluted common share.
• As previously announced, in January, CCP entered into a $200 million seven-year unsecured term loan and used the net proceeds to repay a portion of its $600 million unsecured term loan due 2017. At the same time, CCP entered into swap arrangements relating to a total of $600 million of debt, $200 million of which effectively converted the seven-year term loan to a fixed rate of 3.25 percent and $400 million of which effectively converted a portion of CCP’s unsecured term loan due 2020 to a fixed rate of 2.73 percent.
• Dispositions during the first quarter of 2016 totaled approximately $10 million, comprised of seven assets. In addition, CCP is under contract to sell seven assets for $95 million pursuant to the exercise of a fair market value-based tenant purchase option, with closing anticipated in the second quarter. Inclusive of this transaction, the overall capitalization rate on the dispositions is expected to be just over 8 percent.
• Redevelopment and development investments in the quarter totaled approximately $9 million at an average initial cash yield of 8.3 percent.
• CCP has agreed to fund a $25 million mezzanine loan secured by four of the assets being acquired under the purchase option mentioned above. The loan has a term of four years, bears interest at 10 percent per annum and is expected to close simultaneously with the sale.
• On March 31, 2016, CCP paid a cash dividend of $0.57 per share to stockholders of record as of March 21, 2016, representing a payout ratio of 71 percent of normalized FFO for the first quarter.
• Cash net operating income (“NOI”) for CCP’s 306 same-store properties decreased 1.1 percent for the first quarter of 2016 compared to the first quarter of 2015. Same-store results were lower in 2016 due to lost rent from the previously reported transition of 14 properties to two new operators in the first quarter of 2016, offset by contractual escalations. Excluding those properties, same-store cash NOI increased 2.6 percent.
• For the quarter ended December 31, 2015 (the latest period available), trailing 12-month EBITDARM coverage for the total portfolio was 1.8x, EBITDAR coverage was 1.4x and Q-mix was 54 percent.
• At March 31, 2016, CCP had over $450 million of available borrowing capacity under its revolving credit facility. Net debt to Adjusted Pro Forma EBITDA was 4.9x as of March 31, 2016.
• CCP currently has 32 corporate employees and has moved into its new corporate headquarters location, which remains in Chicago, Illinois.

First Quarter Conference Call

CCP will hold a conference call to discuss its first quarter 2016 results today at 10:00 A.M. Eastern Time (9:00 A.M. Central Time). The dial-in number for the conference call is (888) 317-6016 or (412) 317-6016 for international callers and (855) 669-9657 for Canadian callers. Please ask to be joined to the Care Capital Properties, Inc. call. The call will also be webcast live and can be accessed at CCP’s website at www.carecapitalproperties.com. A replay of the call will be available at CCP’s website, or by calling (877) 344-7529 or (412) 317-0088 for international callers and (855) 669-9658 for Canadian callers, passcode 10084693, beginning on May 6, 2016 at approximately 12:00 P.M. Eastern Time, and will remain available until June 6, 2016.

Care Capital Properties, Inc. is a healthcare real estate investment trust with a diversified portfolio of triple-net leased properties focused on the post-acute sector. Its skilled management team is fully invested in delivering excellent returns by forging strong relationships with shareholders, operators and employees. More information about Care Capital Properties, Inc. can be found at: www.carecapitalproperties.com.

Supplemental information regarding CCP can be found on CCP’s website under the “Investors” section or at www.carecapitalproperties.com/investors/financial-information/documents.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding CCP’s or its tenants’ or borrowers’ expected future financial condition, results of operations, cash flows, funds from operations, dividends and dividend plans, financing opportunities and plans, capital markets transactions, business strategy, budgets, projected costs, operating metrics, capital expenditures, competitive positions, acquisitions, investment opportunities, dispositions, growth opportunities, expected lease income, continued qualification as a real estate investment trust (“REIT”), plans and objectives of management for future operations and statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions are forward-looking statements. These forward-looking statements are inherently uncertain, and actual results may differ materially from CCP’s expectations. Except as required by law, CCP does not undertake a duty to update these forward-looking statements, which speak only as of the date on which they are made.

Factors that could cause CCP’s actual future results and trends to differ materially from those anticipated are discussed in its filings with the Securities and Exchange Commission and include, without limitation: (a) the ability and willingness of CCP’s tenants, borrowers and other counterparties to satisfy their obligations under their respective contractual arrangements with CCP, including, in some cases, their obligations to indemnify, defend and hold harmless CCP from and against various claims, litigation and liabilities; (b) the ability of CCP’s tenants and borrowers to maintain the financial strength and liquidity necessary to satisfy their respective obligations and liabilities to third parties, including without limitation obligations under their existing credit facilities and other indebtedness; (c) CCP’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate suitable acquisitions and investments; (d) macroeconomic conditions such as a disruption of or lack of access to the capital markets, changes in the debt rating on U.S. government securities, default or delay in payment by the United States of its obligations, and changes in the federal or state budgets resulting in the reduction or nonpayment of Medicare or Medicaid reimbursement rates; (e) the nature and extent of competition in the markets in which CCP’s properties are located; (f) the impact of pending and future healthcare reform and regulations, including cost containment measures, quality initiatives and changes in reimbursement methodologies, policies, procedures and rates; (g) increases in CCP’s borrowing costs as a result of changes in interest rates and other factors; (h) the ability of CCP’s tenants to operate CCP’s properties in compliance with applicable laws, rules and regulations, to deliver high-quality services, to hire and retain qualified personnel, to attract residents and patients and to participate in government and managed care reimbursement programs; (i) changes in general economic conditions or economic conditions in the markets in which CCP may, from time to time, compete for investments, capital and talent, and the effect of those changes on CCP’s earnings and financing sources; (j) CCP’s ability to repay, refinance, restructure or extend its indebtedness as it becomes due; (k) CCP’s ability and willingness to maintain its qualification as a real estate investment trust in light of economic, market, legal, tax and other considerations; (l) final determination of CCP’s taxable net income for the year ended December 31, 2015 and for current and future years; (m) the ability and willingness of CCP’s tenants to renew their leases with CCP upon expiration of the leases, CCP’s ability to reposition its properties on the same or better terms in the event of nonrenewal or in the event CCP exercises its right to replace an existing tenant, and obligations, including indemnification obligations, CCP may incur in connection with the replacement of an existing tenant; (n) year-over-year changes in the Consumer Price Index and the effect of those changes on the rent escalators contained in CCP’s leases and on CCP’s earnings; (o) CCP’s ability and the ability of its tenants and borrowers to obtain and maintain adequate property, liability and other insurance from reputable, financially stable providers; (p) the impact of increased operating costs and uninsured professional liability claims on CCP’s or its tenants’ or borrowers’ liquidity, financial condition and results of operations, and the ability of CCP and its tenants and borrowers to accurately estimate the magnitude of those costs and claims; (q) consolidation in the healthcare industry resulting in a change of control of, or a competitor’s investment in, one or more of CCP’s tenants or borrowers or significant changes in the senior management of CCP’s tenants or borrowers; (r) the impact of litigation or any financial, accounting, legal or regulatory issues that may affect CCP or its tenants or borrowers; and (s) changes in accounting principles, or their application or interpretation, and CCP’s ability to make estimates and the assumptions underlying the estimates, which could have an effect on CCP’s earnings. Many of these factors are beyond the control of CCP and its management.

CONTACT:
Care Capital Properties, Inc.
Lori B. Wittman
Executive Vice President and Chief Financial Officer
lwittman@carecapitalproperties.com
312.881.4702