Press release from Business Wire
Medical Properties Trust Inc. Successfully Completes Transactions with Ernest Health, Inc.
Wednesday, February 29, 2012
Medical Properties Trust Inc. Successfully Completes Transactions with Ernest Health, Inc.17:11 EST Wednesday, February 29, 2012 BIRMINGHAM, Ala. (Business Wire) -- 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 press release.Medical Properties Trust, Inc.Charles Lambert, 205-397-8897Finance Directorclambert@medicalpropertiestrust.com