Medical Properties Trust Inc. recently revealed that it completed the acquisitions of the real estate interests of eight UK hospitals operated by Ramsay Health Care and 16 hospitals operated by Prospect Medical Holdings, Inc.
Medical Properties Trust Inc. is a self-advised real estate investment trust formed to acquire and develop net-leased hospital facilities. 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.
As The REIT Wire previously reported, Medical Properties Trust recently entered into a definitive agreement with Secure Income REIT under which MPT will acquire freehold interests in eight private hospitals located throughout England for an aggregate purchase price of approximately $434 million. The hospitals are leased pursuant to in-place net leases with an approximate 18-year remaining lease term and include annual fixed and periodic market-based escalations.
Ramsay Health Care, the fifth largest private hospital operator in the world and one of the leading operators in Western Europe, operates the hospitals and is the guarantor of the leases. Ramsay is headquartered in Sydney, Australia and operates 480 healthcare facilities across 11 countries, including 34 acute care hospitals and day procedure centers in the UK.
Through this transaction, MPT further expands its footprint in the UK, building upon the successful acquisition of BMI Harbour Hospital in Poole, England earlier this year, and the Company’s relationship with Circle Health that now includes two acute hospitals and a rehabilitation hospital. Including the Ramsay hospitals that MPT is acquiring, which have a total of 255 licensed beds, the Company will now own 12 hospital facilities across the UK collectively representing 463 licensed beds.