Healthcare DIVE April 15, 2024
The deal is expected to generate approximately $1.1 billion in in cash for the liquidity-strapped hospital landlord.
Dive Brief:
- Medical Properties Trust has sold the majority of its interests in five Utah hospitals for $886 million, the hospital landlord said Friday. The hospitals included in the deal are currently leased to a subsidiary of CommonSpirit Health.
- The buyer is an unspecified investment firm’s newly formed joint venture. The JV also granted MPT a $190 million non-recourse secured loan — meaning if MPT defaults, the lender cannot collect MPT’s other assets or income. In total, MPT expects the two transactions to generate $1.1 billion in immediate cash, according to the announcement.
- The sale comes just three days after the landlord...
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