Franklin, Tenn.-based IASIS Healthcare has executed a sale-leaseback agreement involving three hospitals with Medical Properties Trust, a healthcare real estate investment trust based in Birmingham, Ala.
The deal involves Medical Properties-owned buildings and land associated with IASIS hospitals. The facilities involved are West Monroe, La.-based Glenwood Regional Medical Center; The Medical Center of Southeast Texas in Port Arthur, Texas; and Mesa, Ariz.-based Mountain Vista Medical Center.
Once the transaction is complete, IASIS will continue to own and operate the hospitals while leasing the land and buildings from Medicare Properties. IASIS plans to use the estimated $281.3 million in proceeds the transaction will generate to carry out strategic initiatives aimed at growth in existing markets and expansion into new markets, among other objectives.
The transaction will not result in any changes for Glenwood, Mountain Vista and Medical Center staff, physicians or patients, IASIS Healthcare President and CEO Carl Whitmer said in a news release.
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