BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 3, 2016--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161003006434/en/
Source: Medical Properties Trust, Inc.
Medical Properties Trust, Inc.
Tim Berryman, 205-969-3755
Director
– Investor Relations
tberryman@medicalpropertiestrust.com