Bethesda, Md.-based Global Medical REIT will purchase three rehabilitation hospitals for an aggregate of $68,093,000.
The three facilities included in the transaction are Meza, Ariz.-based HealthSouth East Valley Rehabilitation Hospital, HealthSouth Rehabilitation Hospital of Altoona (Pa.) and HealthSouth Rehabilitation Hospital of Mechanicsburg (Pa.).
Global Medical REIT officials said they plan to complete the three acquisitions in an all-cash transaction using proceeds from the company's IPO. The three transactions are contingent upon one another, meaning Global Medical REIT will not be able to purchase one facility without purchasing the other two.
Officials said they plan to close the transaction by the end of the fourth quarter.