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MPT Closes on $1.4B Hospital Deal

Comprising a $700-million sale-leaseback and a $700-million mortgage investment, the completion of the deal with Medical Properties Trust coincides with Steward Health Care's merger with IASIS.

By Paul Bubny | paulbubny | Updated on October 02, 2017

Exterior of hospital Sr. Luke’s Medical Center (pictured) and St. Luke’s Behavioral Health Center, both in Phoenix, are part of the IASIS portfolio that MPT has acquired.

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.

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