Birmingham, Ala.-based Medical Properties Trust, one of the world's largest healthcare real estate owners, has sold 11 Colorado-based freestanding emergency departments, primary care, imaging and urgent care facilities for $86 million to Aurora-based University of Colorado Health.
MPT plans to use the money from the sale to "reduce debt and for general corporate purposes," according to an Aug. 14 news release from the company.
Construction of the 11 facilities cost $64 million and was funded by Medical Properties. The facilities were originally operated by Irving, Texas-based Adeptus Health.
After Adeptus Health sought Chapter 11 bankruptcy protection in 2017, MPT began leasing the facilities to UCHealth.
The sale comes after the company posted a $321 million net loss in the second quarter of 2024, ended June 30, an uptick from the $42 million loss seen during the same period in 2023.
MPT is also the landlord to Dallas-based Steward Health Care, which sought Chapter 11 protection May 6 and is working to offload its hospitals and physician group, Stewardship Health.
Steward entered into a bidding asset purchase agreement with Orlando (Fla.) Health on Aug. 14 for its Northern Florida assets for $439.42 million. Also, Nashville, Tenn.-based Rural Healthcare Group, part of private equity firm Kinderhook Industries, entered into a definitive agreement Aug. 12 to purchase Stewardship Health for $245 million.