Medical Properties Trust Inc. Successfully Completes Transactions With Ernest Health, Inc.
02/29/12 - 05:11 PM EST
Medical Properties Trust, Inc. (NYSE: MPW) announced today that it has
completed the previously announced series of transactions with Ernest
Health, Inc. with an aggregate value of approximately $400 million.
Ernest’s 16 properties bring the total number of properties in MPT’s
portfolio to 78 healthcare facilities in 24 states and total assets of
approximately $2.1 billion. Headquartered in Albuquerque, N.M., Ernest
is one of the nation’s leading operators of inpatient rehabilitation and
long-term acute care hospitals.
“We are extremely excited to formally welcome Ernest Health into the MPT
family of premier companies,” said Edward K. Aldag, Jr., Chairman,
President and CEO of Medical Properties Trust. “This acquisition adds to
the diversification of our portfolio and further underscores our
position as one of the nation’s leading providers of hospital
financing,” he said.
“The similar vision of Medical Properties Trust and Ernest Health makes
this transaction a win-win for both organizations,” said Darby
Brockette, CEO of Ernest Health, Inc. “We are honored to be a part of
the MPT family and look forward to a fruitful relationship,” he said.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a Birmingham, Alabama based
self-advised real estate investment trust formed to capitalize on the
changing trends in healthcare delivery by acquiring and developing
net-leased healthcare facilities. These facilities include inpatient
rehabilitation hospitals, long-term acute care hospitals, regional acute
care hospitals, ambulatory surgery centers and other single-discipline
healthcare facilities, such as heart hospitals and orthopedic hospitals.
The statements in this press release that are forward looking are
based on current expectations and actual results or future events may
differ materially. Words such as “expects,” “believes,” “anticipates,”
“intends,” “will,” “should” and variations of such words and similar
expressions are intended to identify such forward-looking statements,
which include, but are not limited to, the payment of future dividends,
if any. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results of the
Company or future events to differ materially from those expressed in or
underlying such forward-looking statements, including without
limitation: national and economic, business, real estate and other
market conditions; the competitive environment in which the Company
operates; the execution of the Company’s business plan; financing risks;
the Company’s ability to maintain its status as a REIT for federal
income tax purposes; acquisition and development risks; potential
environmental and other liabilities; and other factors affecting the
real estate industry generally or the healthcare real estate in
particular. For further discussion of the factors that could affect
outcomes, please refer to the “Risk Factors” section of the Company’s
Form 10-K for the year ended December 31, 2011 and our other SEC
filings. Except as otherwise required by the federal securities laws,
the Company undertakes no obligation to update the information in this