Medical Properties Trust, Inc. Completes $1.25 Billion Investment in Nine Steward Health Care Hospitals
October 03 2016 - 4:01PM
Business Wire
Medical Properties Trust, Inc. (the “Company” or “MPT”) (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.
The statements in this press release that are forward looking
are based on current expectations and actual results or future
events may differ materially. Forward-looking statements can
generally be identified by the use of forward-looking words such as
“may,” “will,” “would,” “could,” “expect,” “intend,” “plan,” “aim,”
“estimate,” “target,” “anticipate,” “believe,” “continue,”
“objectives,” “outlook,” “guidance” or other similar words, and
include statements regarding MPT’s plans, strategies, objectives,
targets, future expansion and development activities and expected
financial performance. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results of the Company or future events to differ materially
from those expressed in or underlying such forward‐looking
statements, including without limitation: the satisfaction of all
conditions to, and the timely closing (if at all) of pending
transactions; the capacity of the Company’s tenants to meet the
terms of their agreements; net income per share; Normalized FFO per
share; expected payout ratio, the amount of acquisitions of
healthcare real estate, if any; capital markets conditions, the
repayment of debt arrangements; statements concerning the
additional income to the Company as a result of ownership interests
in certain hospital operations and the timing of such income; the
payment of future dividends, if any; completion of additional debt
or equity arrangements, and additional investments; national and
international economic, business, real estate and other market
conditions; the competitive environment in which the Company
operates; the execution of the Company’s business plan; financing
risks; the Company’s ability to maintain its status as a REIT for
federal income tax purposes; acquisition and development risks;
potential environmental and other liabilities; and other factors
affecting the real estate industry generally or healthcare real
estate in particular; and the value of our real estate assets,
which may limit our ability to dispose of assets at attractive
prices or obtain or maintain equity or debt financing secured by
our properties or on an unsecured basis, and the factors referenced
under the section captioned “Item 1.A Risk Factors” in our annual
report on Form 10-K for the year ended December 31, 2015 and “Item
1.A Risk Factor” in our quarterly report Form 10-Q for the quarter
ended June 30, 2016. Actual results, performance or achievements
may vary materially from any projections and forward looking
statements and the assumptions on which those statements are based.
Readers are cautioned not to place undue reliance on
forward-looking statements, and MPT disclaims any responsibility to
update such information.
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version on businesswire.com: http://www.businesswire.com/news/home/20161003006434/en/
Medical Properties Trust, Inc.Tim Berryman, 205-969-3755Director
– Investor Relationstberryman@medicalpropertiestrust.com
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