MPT Completes Acquisition of Seven Acute Care Hospitals Operated by Capella Healthcare
Birmingham, AL – Medical Properties Trust, Inc. announced on September 1st that it has completed the acquisition of seven acute care hospitals from Franklin, Tennessee-based Capella Healthcare, Inc., plus a minority interest in Capella’s operations.
The $900 million deal with Capella, which ranks among the ten largest for-profit hospital companies in the United States, marks the single largest transaction in MPT’s history – including more than two million square feet of space and 1,169 hospital beds.
Capella was previously owned by funds affiliated with GTCR, a leading private equity firm.
“This is an unprecedented collaboration that benefits all of our stakeholders, our patients and communities first and foremost,” said Michael A. Wiechart, President and CEO of Capella.
“The funding being provided through our partnering with Medical Properties Trust, Inc. enables us to take care to the next level as we build upon our legacy of service to our existing community hospitals. Equally vital, it fuels our long-term growth plans, allowing us to serve additional communities during this time of unique opportunity for the healthcare industry.”
The hospitals include Carolina Pines Regional Medical Center in Hartsville, SC; National Park Medical Center in Hot Springs, AR; St. Mary’s Regional Medical Center in Russellville, AR; EASTAR Health System in Muskogee, OK; Southwestern Medical Center in Lawton, OK; Willamette Valley Medical Center in McMinnville, OR; and Capital Medical Center in Olympia, WA.
“We are delighted to have earned the confidence of Capella Healthcare as it further expands its footprint across the country,” said Edward K. Aldag, Jr., MPT’s Chairman, President and CEO.
“MPT’s highly successful investment of real estate capital in the hospital business has allowed us to carve a unique niche in the largest and fastest-growing segment of the U.S. economy as we continue to focus exclusively on providing capital to licensed hospitals of all kinds,” Aldag noted.