posted on March 04, 2011 01:20
Medical Properties Trust Inc. has acquired the 60-bed Atrium Medical Center at Corinth for $23.5 million.
Atrium, near Denton, is a long-term acute care hospital that was completed in 2009.
A Medical Properties affiliate invested approximately $6.5 million in this joint venture arrangement with an affiliate of Vibra Healthcare that will manage and has acquired a 51 percent interest in the operations of Atrium. Medical Properties' interest in the joint venture is approximately 19 percent.
Birmingham-based Medical Properties Trust (NYSE: MPW) also spent about $58 million for a 278-bed acute care hospital in the New Jersey area of metropolitan New York and leased the facility to the operator under a 15-year lease with six five-year extension options.
“With today’s announcements, we have committed more than $175 million in investments so far in 2011, and approximately $380 million since our April 2010 refinancing transactions,” said Edward K. Aldag Jr., chairman, president and CEO of Medical Properties Trust Inc.
2/16/11, Birmingham Business Journal, Ben Piper