▁two ▁other ▁partners ▁founded ▁Ven cor ▁in ▁ 1 9 8 5 . ▁Origin ally ▁the ▁company ▁was ▁called ▁V enc are , ▁but ▁an ▁initial ▁public ▁offering ▁was ▁registered ▁under ▁the ▁name ▁Ven cor ▁in ▁ 1 9 8 9 . ▁ ▁At ▁one ▁point ▁during ▁L uns ford ' s ▁ten ure , ▁Ven cor ▁grew ▁to ▁employ ▁over ▁ 6 5 , 0 0 0 ▁people ▁in ▁ 4 5 ▁states , ▁with ▁more ▁than ▁ 3 0 0 ▁facilities ▁car ing ▁for ▁ 5 0 , 0 0 0 ▁patients . ▁ ▁Ven cor ▁also ▁became ▁a ▁Fort une ▁ 5 0 0 ▁company . ▁ ▁In ▁ 1 9 9 8 , ▁Ven cor ▁was ▁split ▁into ▁two ▁companies . ▁One ▁company , ▁Vent as ▁became ▁a ▁real ▁estate ▁invest ment ▁trust ▁( RE IT ) ▁which ▁owned ▁all ▁of ▁the ▁real - est ate ▁property , ▁and ▁le ased ▁space ▁to ▁the ▁second ▁company , ▁Ven cor , ▁which ▁operated ▁the ▁facilities . ▁At ▁the ▁time , ▁Ven cor ▁was ▁expand ing ▁rapidly , ▁and ▁it ▁considered ▁that ▁using ▁a ▁RE IT ▁provided ▁a ▁better ▁finan cing ▁structure ▁to ▁allow ▁the ▁companies ▁to ▁grow . ▁At ▁the ▁time ▁of ▁the ▁split , ▁all ▁share hold ers ▁in ▁Ven cor ▁were ▁issued ▁one ▁share ▁of ▁Vent as ▁for ▁every ▁share ▁of ▁Ven cor ▁that ▁they ▁held . ▁ ▁In ▁ 1 9 9 7 , ▁the ▁US ▁Government ▁dr ast ically ▁reduced ▁Medic are ▁re imb urs ement