Frontdoor Donates Carroll Facility to St. Anthony Regional Hospital

Rhea-AI Summary

Frontdoor, Inc. (NASDAQ: FTDR) donated its office building in Carroll, Iowa to St. Anthony Regional Hospital, valued at $2.1 million. The transfer was effective January 16, 2024. This move demonstrates the company's commitment to the Carroll community and its strategic philanthropy.

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Frontdoor, Inc. (NASDAQ: FTDR), the nation’s leading provider of home service warranties, donated its office building in Carroll, Iowa to St. Anthony Regional Hospital. The transfer was effective January 16, 2024.

St. Anthony, located in Carroll, is an Iowa non-profit, independent hospital dedicated to serving patients in the Carroll community and beyond. The donated building, located at 1524 US-30 in Carroll, is approximately 43,000 square feet. The property was recently appraised at a value of $2.1 million. Frontdoor has used it as office space for its approximately 150 Carroll-based associates since 1990. St. Anthony is currently evaluating the building space and through their strategic planning process will determine what services will be accompanying the building in the coming months.

“We’re delighted to donate this building to such a great organization. Like Frontdoor, St. Anthony has a long history in Carroll and is a big part of the community. We know they will put this space to good use as they continue to serve patients in west central Iowa,” said Bill Cobb, Frontdoor, Inc.’s chairman and chief executive officer.

“On behalf of St. Anthony, we extend our deepest gratitude to Frontdoor for their generous donation of the property and office building located in Carroll,” said Allen Anderson, president and chief executive officer at St. Anthony. “Like Frontdoor, St. Anthony has a tradition of caring for the Carroll community, and we can continue to build on that with this donation.”

Even though it donated the building, Evan Iverson, Frontdoor’s chief operating officer and a Carroll native, reiterated Frontdoor’s continuing presence in the community.

“Our team in Carroll is very strong and remains a firm part of this close-knit community. It was one of our associates in Carroll who proposed the idea of donating the building to St. Anthony. That says much about how our team feels about this community and we couldn’t be happier that this space will continue to benefit the people of Carroll and surrounding communities,” Iverson said.

Iverson represented Frontdoor at a ceremony in the building January 18 in which he presented Anderson, the St. Anthony CEO, with a plaque that reads, “This building, the former home of American Home Shield in Carroll, was gifted to St. Anthony Regional Hospital in January 2024 as an enduring reminder of American Home Shield’s commitment to the Carroll community.”

About Frontdoor

Frontdoor is reimagining how homeowners maintain and repair their most valuable asset - their home. As the parent company of two leading brands, we bring over 50 years of experience in providing our members with comprehensive options to protect their homes from costly and unexpected breakdowns through our extensive network of pre-qualified professional contractors. American Home Shield, the category leader in home service plans with approximately two million members, gives homeowners budget protection and convenience, covering up to 23 essential home systems and appliances. Frontdoor is a cutting edge, one-stop-app for home repair and maintenance. Enabled by our Streem technology, the app empowers homeowners by connecting them in real time through video chat with pre-qualified experts to diagnose and solve their problems. The Frontdoor app also offers homeowners a range of other benefits including DIY tips, discounts and more. For more information about American Home Shield and Frontdoor, please visit www.frontdoorhome.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. These statements are subject to risks, uncertainties, assumptions, and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements, because actual results may vary materially from those expressed or implied. The reports filed by Frontdoor pursuant to United States securities laws contain discussions of these risks and uncertainties. Frontdoor assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are advised to review Frontdoor's filings with the United States Securities and Exchange Commission (which are available on the SEC's EDGAR database at www.sec.gov and via Frontdoor’s website at investors.frontdoorhome.com).

FTDR-Company

View source version on businesswire.com: https://www.businesswire.com/news/home/20240123551491/en/

Tom Collins

mediacenter@frontdoor.com

Source: Frontdoor, Inc.

FAQ

What did Frontdoor donate to St. Anthony Regional Hospital?

Frontdoor donated its office building in Carroll, Iowa to St. Anthony Regional Hospital.

What is the value of the donated building?

The donated building was recently appraised at a value of $2.1 million.

When was the transfer of the building effective?

The transfer of the building was effective on January 16, 2024.

Who is the chairman and CEO of Frontdoor, Inc.?

Bill Cobb is the chairman and CEO of Frontdoor, Inc.

What is the ticker symbol for Frontdoor, Inc.?

The ticker symbol for Frontdoor, Inc. is FTDR.