FLORENCE, AZ-Medical Properties Trust Inc. has inked an agreement with Visionary Health LLC to acquire Florence Hospital at Anthem, a 36-bed acute care and emergency room facility currently under construction.
The Birmingham, AL-based REIT will invest $30 million in the project including development funding and will achieve double-digit cash returns on it. The company’s Chairman, President and CEO Edward Aldag Jr. made the announcement during Medical Properties Trust’s third quarter earnings conference call.
Visionary Health has leased the facility back from Medical Properties Trust and will operate the facility. It scheduled to open in early 2012, according to Aldag.
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