Birmingham, Ala.-based Medical Properties Trust currently has a minority interest in Springstone Health following an investment of $190 million in October 2021, according to an Aug. 29 news release from the trust. It acquired 18 of the mental health system’s behavioral hospitals for an overall value of $760 million.
LifePoint’s transaction is expected to occur in the first half of 2023. Medical Properties Trust will then be paid back $200 million for its original investment and retain minority interest plus ownership and leasing rights of Springstone’s hospitals.
LifePoint will also be required to extend the maturity of its current master lease of eight general acute hospitals by five years to complete the deal, which it has agreed to.
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