Medical Properties Trust, Inc. (NYSE:MPW) today announced that it has completed the previously announced acquisition of real estate interests of nine acute care hospitals operated by Steward Health Care System LLC (“Steward”) and an equity interest in Steward. Also as previously announced, certain members of Steward management and affiliates of Cerberus Capital Management committed to acquire 10,344,828 common shares of MPW. Such investment will have no rights separate from all other common shareholders and is expected to close imminently.
The Company financed the acquisitions with proceeds from its recently closed public offering of 57.5 million shares of its common stock (including the underwriters’ full exercise of their overallotment options) and borrowings from its revolving credit facility.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a Birmingham, Alabama based self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. MPT’s financing model allows hospitals and other healthcare facilities to unlock the value of their underlying real estate in order to fund facility improvements, technology upgrades, staff additions and new construction. Facilities include acute care hospitals, inpatient rehabilitation hospitals, long-term acute care hospitals, and other medical and surgical facilities. For more information, please visit the Company’s website at www.medicalpropertiestrust.com.