{"id":48133,"date":"2022-09-08T19:01:53","date_gmt":"2022-09-08T17:01:53","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/prime-healthcare-services-inc-completes-the-repurchase-of-hospitals-and-medical-office-buildings-from-medical-properties-trust\/"},"modified":"2022-09-08T19:01:53","modified_gmt":"2022-09-08T17:01:53","slug":"prime-healthcare-services-inc-completes-the-repurchase-of-hospitals-and-medical-office-buildings-from-medical-properties-trust","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/prime-healthcare-services-inc-completes-the-repurchase-of-hospitals-and-medical-office-buildings-from-medical-properties-trust\/","title":{"rendered":"Prime Healthcare Services, Inc. completes the repurchase of hospitals and medical office buildings from Medical Properties Trust"},"content":{"rendered":"
\n

\nPrime now owns all operations and the real estate for the majority of its hospitals<\/i>\n<\/p>\n

ONTARIO, Calif.–(BUSINESS WIRE)–On September 1, 2022, Prime Healthcare Services, Inc. completed the repurchase of nine general acute care hospitals and two related medical office buildings from Medical Properties Trust, Inc. for approximately $360 million. Prime Healthcare is the largest physician-founded and led health system in the nation, recognized for award-winning care and forwarding health equity by transforming hospitals into valued community assets.\n<\/p>\n

<\/a><\/p>\n

\nThe hospitals and medical office buildings purchased, part of Prime Healthcare\u2019s portfolio of 45 hospitals and more than 300 outpatient locations in 14 states, were spread throughout four states and originated from sale leaseback transactions originally entered in 2012.\n<\/p>\n

\n\u201cOver the last ten years, Prime has invested physical and human capital into these facilities, resulting in significant improvements in their financial performance, operations and sustainability as community assets,\u201d said Prime\u2019s Chief Financial Officer Steve Aleman. \u201cThe value created from these assets and those across the system, by the Prime model, has led to the ability to prudently repurchase the assets and further expand the portfolio of our hospitals. With the purchase, Prime now owns the operations and the underlying real estate of the majority of our hospitals.\u201d\n<\/p>\n

\nPrime funded the transaction from a combination of cash on hand, ABL credit draw and various related entity financings. The transaction materially reduces the company\u2019s overall effective interest rate and annual debt service with net neutral leverage.\n<\/p>\n

\nPrime Healthcare stands apart from other health systems by its unique ability to transform financially struggling hospitals while delivering award winning, value-based care for hundreds of communities across the nation.\n<\/p>\n

\nAbout Prime Healthcare<\/i><\/b>\n<\/p>\n

\nAs an award-winning health system headquartered in Ontario, California, operating 45 hospitals and more than 300 outpatient locations in 14 states, Prime Healthcare provides more than 2.6 million patient visits annually. It is one of the nation\u2019s leading health systems with nearly 50,000 employees and physicians. Fourteen of the Prime Healthcare hospitals are members of the Prime Healthcare Foundation, a 501(c)(3) not-for-profit public charity. Please visit www.primehealthcare.com<\/a>.\n<\/p>\n

\nFind us on:<\/b>\n<\/p>\n

\nLinkedIn: linkedin.com\/company\/prime-healthcare<\/a>
Twitter: twitter.com\/_PrimeHealth<\/a>
Facebook: facebook.com\/primehealthcare<\/a>
Instagram: instagram.com\/prime_healthcare\/<\/a>\n<\/p>\n

Contacts<\/b> <\/p>\n

\nElizabeth Nikels \/ 909-235-4305 enikels@primehealthcare.com<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Prime now owns all operations and the real estate for the majority of its hospitals ONTARIO, Calif.–(BUSINESS WIRE)–On September 1, 2022, Prime Healthcare Services, Inc. completed the repurchase of nine general acute care hospitals and two related medical office buildings from Medical Properties Trust, Inc. for approximately $360 million. Prime Healthcare is the largest physician-founded … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-48133","6":"format-standard","7":"category-industry"},"yoast_head":"\nPrime Healthcare Services, Inc. completes the repurchase of hospitals and medical office buildings from Medical Properties Trust - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/prime-healthcare-services-inc-completes-the-repurchase-of-hospitals-and-medical-office-buildings-from-medical-properties-trust\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prime Healthcare Services, Inc. completes the repurchase of hospitals and medical office buildings from Medical Properties Trust - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Prime now owns all operations and the real estate for the majority of its hospitals ONTARIO, Calif.–(BUSINESS WIRE)–On September 1, 2022, Prime Healthcare Services, Inc. completed the repurchase of nine general acute care hospitals and two related medical office buildings from Medical Properties Trust, Inc. for approximately $360 million. Prime Healthcare is the largest physician-founded ... 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