The deal — which IASIS announced in August — 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.
IASIS continues to own and operate the hospitals while leasing the land and buildings from Medicare Properties. IASIS plans to use the $281.3 million in proceeds the transaction generated to carry out strategic initiatives aimed at growth in existing markets and expansion into new markets, among other objectives.
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