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Medical Properties Trust to divest interest in Ernest Health for $175M

Published 05/30/2018, 09:10 AM
© Reuters.  Medical Properties Trust to divest interest in Ernest Health for $175M
MPW
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  • Medical Properties Trust (NYSE:MPW) has agreed to sell its interest in Ernest Health to affiliates of One Equity Partners for $175M, representing an unlevered 13% ROI. The transaction should close in H2. Proceeds will be used to pay down borrowings under its credit revolver.
  • MPT continues to own real estate interests of 25 post-acute hospitals operated by Ernest representing an aggregate investment of $500M.
  • Shares are down 1% premarket on light volume.
  • Now read: Medical Properties Trust: The Debt Is Heavy, But The Profits Are Sound


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