BIRMINGHAM, Ala.–(BUSINESS WIRE)–Medical Properties Trust, today announced the completion of its sale of 11 freestanding emergency department, primary care, imaging and urgent care facilities in Colorado to University of Colorado Health for $86 million. The Company intends to use the proceeds from the transaction to reduce debt and for general corporate purposes.
Construction of the eleven facilities was funded by MPT for their original operator, Adeptus Health (“Adeptus”), between 2015 and 2017 at a total initial cost of $64 million. Shortly after Adeptus filed for Chapter 11 bankruptcy protection in 2017, UCHealth leased the facilities from MPT without interruption to care and with a nominal rent concession reflective of UCHealth’s strong credit quality.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world’s largest owners of hospital real estate with 435 facilities and approximately 42,000 licensed beds in nine countries and across three continents as of June 30, 2024. MPT’s financing model facilitates acquisitions and recapitalizations and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations. For more information, please visit the Company’s website at www.medicalpropertiestrust.com.
