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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.

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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Paul Bubny

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.

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