Birmingham, Ala.-based Medical Properties Trust, one of the world's largest healthcare real estate owners, has completed the $160 million sale of a hospital and seven freestanding emergency department facilities to San Francisco-based Dignity Health, part of Chicago-based CommonSpirit Health.
The sale comprises 50-bed Mesa, Ariz.-based Arizona General Hospital and seven freestanding EDs in the Phoenix area, according to a July 24 news release.
Medical Properties Trust funded the construction of the eight facilities for $92 million. The facilities were originally operated by Irving, Texas-based Adeptus Health.
Adeptus Health filed for Chapter 11 bankruptcy in 2017.
"Shortly after Adeptus filed for Chapter 11 bankruptcy protection in 2017, Dignity Health recognized the value of this footprint within a growing and aging local healthcare ecosystem and leased the facilities without interruption to care or any change to the rental rate," the release said.
Medical Properties Trust is also the landlord to Dallas-based Steward Health Care. Steward filed for Chapter 11 bankruptcy May 6 and is working to offload its 31 hospitals and physician group, Stewardship Health.
Becker's has reached out to Dignity Health and will update this story if more information become available.