BIRMINGHAM, AL—Medical Properties Trust Inc. (MPT) said Friday it had completed its previously announced acquisition of 10 acute care hospitals and one behavioral health facility from IASIS Healthcare. The sale was contingent upon the completion of the merger between IASIS and Steward Health Care System LLC, which also closed on Friday.
With its acquisition of IASIS, Boston-based Steward becomes the largest private hospital operator in the US. MPT has also acquired $100 million in minority preferred interests of Steward.
Joining the Steward system are four facilities in Arizona; one each in Arkansas, Colorado and Lousiana; six in Texas; and five in Utah. The sale to MPT, which comprises a $700-million sale-leaseback and a $700-million mortgage investment, includes the Arkansas facility, three of the Arizona facilities, three of the Texas facilities and four of the five Utah properties.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
