$880 Million Purchase and Leaseback of 40 Hospital Facilities
Expected to Close on Expedited Basis
BIRMINGHAM, Ala.--(BUSINESS WIRE)--Dec. 16, 2014--
Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW)
announced that MEDIAN Kliniken Group has received regulatory approvals
from the German antitrust authorities to complete its sale to affiliates
of Waterland Private Equity and MPT, and has closed the sale as of
December 15. The parties initially expected the approval would not be
received until some point in the first quarter of 2015.
The prompt antitrust approval and sale is further expected to accelerate
MPT’s $880 million purchase and leaseback of MEDIAN’s 40 hospital
facilities by at least several weeks ahead of initial expectations. In
addition, MPT now expects to fund, and begin accrual of income on, up to
approximately $500 million of such purchase prices during the remainder
of 2014. The purchase and leaseback transactions are subject to
customary real estate, regulatory and other closing conditions,
including waiver of any statutory pre-emption rights by local
municipalities. MPT expects to complete these transactions in the first
quarter of 2015.
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 lease 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. Words such as "expects," "believes," "anticipates,"
"intends," "will," "should” and variations of such words and similar
expressions are intended to identify such forward-looking statements.
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, the Median acquisition and sale-leaseback
transactions described herein; the capacity of the Company’s tenants to
meet the terms of their agreements; 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; 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. For further discussion of the factors that
could affect outcomes, please refer to the "Risk factors" section of the
Company's Annual Report on Form 10-K for the year ended December 31,
2013, and as updated by the Company’s subsequently filed Quarterly
Reports on Form 10-Q and other SEC filings. Except as otherwise required
by the federal securities laws, the Company undertakes no obligation to
update the information in this press release.
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Tim Berryman, 205-397-8589
Director
– Investor Relations
tberryman@medicalpropertiestrust.com