Exhibit 99.1

VENTAS, INC.

PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME

FOR THE YEAR ENDED DECEMBER 31, 2005

(Unaudited)

On June 7, 2005, Ventas, Inc. (together with its subsidiaries, except where the context otherwise requires, “Ventas,” “we,” “us” or “our”) acquired all of the outstanding common shares of Provident Senior Living Trust (together with its subsidiaries, “Provident”).

The following unaudited pro forma condensed combined financial information sets forth:

• Our condensed consolidated results of operations for the year ended December 31, 2005 derived from our consolidated financial statements;

• the condensed consolidated results of operations of Provident for the period from January 1, 2005 to June 6, 2005 (date of acquisition) derived from Provident’s consolidated financial statements; and

• our unaudited pro forma condensed combined statement of income for the year ended December 31, 2005.

The following unaudited pro forma financial information should be read together with our historical consolidated financial statements and notes thereto and the historical consolidated financial statements of Provident. The unaudited pro forma condensed combined statement of income is presented as if the acquisition occurred on January 1, 2005 for comparative purposes only and is not necessarily indicative of what the actual combined results of operations of Ventas and Provident would have been for the period presented, nor does it purport to represent the results of future periods. The unaudited pro forma adjustments are based on available information and upon assumptions that our management believes are reasonable.

Dated: February 28, 2006

VENTAS, INC.

PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME

FOR THE YEAR ENDED DECEMBER 31, 2005

(In thousands, except per share amounts)

(Unaudited)

	Ventas Historical(A)			Provident Historical(B)			Provident Acquisition Adjustments(C)			Pro Forma as Adjusted
Revenues:
Rental income	$	324,719		$	44,856		$	—		$	369,575
Interest income from loans receivable		5,001			—			—			5,001
Interest and other income		3,268			187			—			3,455
		332,988			45,043			—			378,031
Expenses:
Interest		105,581			15,586			15,384	(D)		136,551
Depreciation		87,848			15,919			6,252	(E)		110,019
Property-level operating expenses		2,576			—			—			2,576
General, administrative and professional fees		23,104			5,313			—			28,417
Stock-based compensation		1,971			1,079			(1,079	)(F)		1,971
Other		(13,514	)		—			—			(13,514	)
		207,566			37,897			20,557			266,020
Income from continuing operations before minority interest, net loss on real estate disposals and discontinued operations		125,422			7,146			(20,557	)		112,011
Minority interest		—			(102	)		102	(G)		—
Net loss on real estate disposals		(175	)		—			—			(175	)
Income before discontinued operations		125,247			7,044			(20,455	)		111,836
Discontinued operations		5,336			—			—			5,336
Net income	$	130,583		$	7,044		$	(20,455	)	$	117,172
Net income per common share:
Basic	$	1.37			N/A			N/A		$	1.16
Diluted	$	1.36			N/A			N/A		$	1.15
Shares used in computing net income per common share:
Basic		95,037			N/A			6,346	(H)		101,383
Diluted		95,775			N/A			6,346	(H)		102,121

N/A Not applicable.

See accompanying notes.

VENTAS, INC.

NOTES TO PRO FORMA CONDENSED COMBINED STATEMENT OF INCOME

(Unaudited)

(A) Reflects our historical results of operations for the year ended December 31, 2005.

(B) Reflects historical results of operations of Provident for the period January 1, 2005 to June 6, 2005 (date of acquisition).

(C) Represents adjustments to record the merger between Provident and us based upon the assumed purchase price of $1.3 billion.

(D) Reflects interest expense for debt issued in connection with our financing of the purchase of Provident and to prepay the Provident revolving line of credit summarized as follows:

	Pro Forma Expense		Amount Recorded by Ventas		Amount Recorded by Provident			Interest Expense Adjustment
	(In thousands)
Interest expense on debt issued by Ventas	$	26,281	$	8,435	$	—		$	17,846
Interest expense on mortgages assumed		29,529		16,790		12,739			—
Interest expense on Provident revolving line of credit		—		—		2,799			(2,799	)
Amortization of financing costs		738		353		240			145
Amortization of debt premium		—		—		(192	)		192
	$	56,548	$	25,578	$	15,586		$	15,384

Interest expense for debt issued is summarized as follows:

	Amount		Average Effective Interest Rate		Pro Forma Annual Interest Expense		Interest Expense Adjustment
	(Dollars in thousands)
Debt issued by Ventas	$	380,885	6.9	%	$	26,281	$	26,281

(E) Reflects depreciation expense on the Provident properties. Based on the preliminary purchase price allocation, we expect to allocate $0.1 billion to land, $1.0 billion to buildings and improvements and $0.1 billion to equipment and fixtures. Depreciation expense is calculated on a straight line basis based on our purchase price allocation and using a 35-year life for buildings and permanent structural improvements and a 5-year life for equipment and fixtures. Depreciation related to the Provident acquisition is summarized as follows:

	Pro Forma Depreciation Expense		Amount Recorded by Ventas		Amount Recorded by Provident		Depreciation Expense Adjustment
	(in thousands)
Provident properties	$	53,210	$	31,039	$	15,919	$	6,252

(F) Reflects a reduction in expense due to the termination of Provident’s Long-Term Incentive Plan (“LTIP”) as a result of our acquisition of Provident. All units outstanding under the LTIP were exchanged for ETOP Class D units upon consummation of the acquisition. The holders of the ETOP Class D units may convert the units to shares of our common stock.

(G) Reflects reduction in minority interest, which was acquired by us in connection with our acquisition of Provident.

(H) Reflects the issuance of 14,999,076 shares of our common stock, which was a component of the consideration paid by us to acquire Provident. The pro forma adjustment assumes that all Provident LTIP Units are converted to our common stock.