The letter of intent between Medical Properties Trust and St. Vincent Health establishes a timeline for the negotiation of terms under which St. Vincent Health could purchase the Monroe Hospital operating assets from the existing owner and purchase or enter into a long-term lease for the real estate from Medical Properties Trust.
About St.Vincent Health
St. Vincent Health is a nonprofit, spiritually-centered health system, sponsored by Ascension Health of St. Louis, MO., the nation’s largest Catholic health system. St. Vincent Health is one of Indiana’s largest employers with 22 health ministries serving central and southern Indiana. The 131-year-old health system delivers high quality, compassionate care in service areas such as cardiovascular, womens, childrens, neurosciences, cancer care, orthopedics, bariatrics, primary care, emergency medicine, imaging, general surgery and long-term acute care. For more information, visit www.stvincent.org.
About Medical Properties Trust, Inc.Medical Properties Trust, Inc. is a self-advised real estate investment trust that invests in healthcare assets 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. Medical Properties Trust, Inc. is one of the country’s largest investors in hospital real estate with more than $2.1 billion in assets comprised of more than 80 hospital facilities and other assets. 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 operations of Monroe Hospital and the outcome of any potential purchase or lease of hospital facilities by St. Vincent. 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, as amended, for the year ended December 31, 2011, as amended, 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 press release.