LifePoint Health Signs Real Estate Agreement with Medical Properties Trust
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Nov 5, 2019--
LifePoint Health®, a leading healthcare company dedicated to Making Communities Healthier®, today announced that it has signed an agreement with Medical Properties Trust, Inc. (“MPT”) (NYSE:MPW) for a sale-leaseback transaction in which it will transfer ownership of the real estate of 10 acute care hospitals in six of its markets to MPT. The aggregate purchase price of the transaction is $700 million.
“This sale-leaseback transaction further solidifies our existing relationship with a proven partner, and allows us to stay focused on operations and the delivery of high quality patient care,” said David Dill, president and chief executive officer of LifePoint Health. “LifePoint is committed to the communities we serve and will continue to operate these facilities. Our hospitals’ employees, physicians and patients will not experience any changes.”
The transaction is expected to close in the fourth quarter of 2019 or first quarter of 2020, subject to customary closing conditions.
Barclays served as financial advisor to LifePoint, and Sidley Austin LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Akin Gump Strauss Hauer & Feld LLP, and Waller Lansden Dortch & Davis, LLP served as legal advisors.
About LifePoint Health®
LifePoint Health is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities across the country. It is the sole community healthcare provider in the majority of the non-urban communities it serves. More information about the company can be found at www.LifePointHealth.net.
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CONTACT: Michelle Augusty
Vice President, Communications
KEYWORD: UNITED STATES NORTH AMERICA TENNESSEE
INDUSTRY KEYWORD: HEALTH HOSPITALS
SOURCE: LifePoint Health
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PUB: 11/05/2019 07:25 AM/DISC: 11/05/2019 07:25 AM