Medical Properties Trust (NYSE:MPW) enters agreements with two new operators and completes an agreement with a third new operator to invest ~$1.75B in a total of 24 hospital facilities.
The agreements include investments in:
14 acute care hospitals and two behavioral health hospital facilities operated by Prospect Medical Holdings for $1.55B;
Seven community hospitals operated by Saint Luke’s Health System for $145M; and
One acute care hospital operated by Halsen Healthcare for $55M.
Sees deals immediately accretive; boosts run-rate guidance for NFFO to $1.54-$1.58 per share.
Reduces exposure to MPT’s largest tenant, Steward Healthcare, to 30.3% from 39.5% as of Dec. 31, 2018, and its two largest tenants combined to 42.6%, down from 51.1%.
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