Under the agreement, Medical Properties Trust will then lease the hospitals back to LifePoint.
David Dill, president and CEO of LifePoint, said that hospital employees, physicians and patients will not experience any changes as a result of the deal.
The initial term of the lease is 20 years with two five-year extension options.
The sale-leaseback transaction is expected to close this year or early next year.
When the deal closes, Medical Properties Trust will have a portfolio that includes assets of almost $14 billion and about 40,000 beds in 34 U.S. states.
More articles on healthcare industry transactions:
Baptist Health to acquire struggling Kentucky hospital after lawsuit dropped
Mercy Hospital in Minnesota to join Essentia Health
UHS inks deal to build out network of ASCs
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