“HCA is a well-known industry leader with a proven track record of improving patient care by leveraging its learning health system model capabilities. Aldag, Jr., MPT’s Chairman, President, and CEO. “We are excited to welcome HCA Healthcare to our family of world-class hospital operators,” said Edward K. The purchase price under either option scenario will not be less than fair value. HCA Healthcare will have certain options to purchase the facilities starting in 2028, while MPT will have certain options to sell the facilities to HCA Healthcare. The lease agreement will include five extension options of five years each, and rental payments will increase annually at CPI, subject to a 2.0% floor and 5.0% ceiling. Upon completion of the transaction between HCA Healthcare and Steward, MPT and HCA Healthcare will enter into a new 15-year master lease for the five Utah hospitals, with no change to the cash rent payable to MPT under the existing Steward master lease. Since the acquisition of the Utah hospitals in 2017, MPT has recorded more than $300 million in real estate rent and interest from these properties. Following completion of this agreement with HCA Healthcare and closing of other recently announced transactions, the percentage of MPT’s portfolio represented by Steward assets is expected to decrease to approximately 17%. MPT’s purchase price of $1.2 billion for the Utah hospitals represents approximately 5.0% of the Company’s total pro forma gross assets, which will place HCA Healthcare among the five largest tenants in the MPT portfolio. (the “Company” or “MPT”) (NYSE: MPW) today announced that it has entered into an agreement to lease substantially all of its Utah hospitals to HCA Healthcare (“HCA Healthcare”) (NYSE: HCA), following an agreement by HCA Healthcare to purchase the operations of five Utah facilities from Steward Health Care System (“Steward”), for which the financial terms of the sale will remain confidential. BIRMINGHAM, Ala.-( BUSINESS WIRE)-Medical Properties Trust, Inc.
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