Brentwood, Tenn. (November 5, 2019) – LifePoint Health®, a leading healthcare company dedicated to Making Communities Healthier®, today announced that it has signed an agreement with Medical Properties Trust, Inc. (“MPT”) (NYSE:MPW) for a sale-leaseback transaction in which it will transfer ownership of the real estate of 10 acute care hospitals in six of its markets to MPT. The aggregate purchase price of the transaction is $700 million.
“This sale-leaseback transaction further solidifies our existing relationship with a proven partner, and allows us to stay focused on operations and the delivery of high quality patient care,” said David Dill, president and chief executive officer of LifePoint Health. “LifePoint is committed to the communities we serve and will continue to operate these facilities. Our hospitals’ employees, physicians and patients will not experience any changes.”
The transaction is expected to close in the fourth quarter of 2019 or first quarter of 2020, subject to customary closing conditions.
Barclays served as financial advisor to LifePoint, and Sidley Austin LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Akin Gump Strauss Hauer & Feld LLP, and Waller Lansden Dortch & Davis, LLP served as legal advisors.
About LifePoint Health®
LifePoint Health is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities across the country. It is the sole community healthcare provider in the majority of the non-urban communities it serves. More information about the company can be found at www.LifePointHealth.net.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements include any statements that address future results or occurrences. In some cases you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “would,” “should,” “could” or the negatives thereof. Generally, the words “anticipate,” “believe,” “continue,” “expect,” “intend,” “estimate,” “project,” “plan” and similar expressions identify forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance contained elsewhere in this press release are forward-looking statements. These forward-looking statements include statements that are not historical facts, including statements concerning our possible or assumed future actions and business strategies. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, many of which are outside of our control, which could cause our actual results, performance or achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments. Statements in this press release are made as of the date hereof. New factors emerge from time to time that could cause our actual results to differ, and it is not possible to predict all such factors.
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Media Contact
Michelle Augusty
Vice President, Communications
615-920-7654
Michelle.augusty@lpnt.net
“This sale-leaseback transaction further solidifies our existing relationship with a proven partner, and allows us to stay focused on operations and the delivery of high quality patient care,” said David Dill, president and chief executive officer of LifePoint Health. “LifePoint is committed to the communities we serve and will continue to operate these facilities. Our hospitals’ employees, physicians and patients will not experience any changes.”
The transaction is expected to close in the fourth quarter of 2019 or first quarter of 2020, subject to customary closing conditions.
Barclays served as financial advisor to LifePoint, and Sidley Austin LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Akin Gump Strauss Hauer & Feld LLP, and Waller Lansden Dortch & Davis, LLP served as legal advisors.
About LifePoint Health®
LifePoint Health is a leading healthcare company dedicated to Making Communities Healthier®. Through its subsidiaries, it provides quality inpatient, outpatient and post-acute services close to home. LifePoint owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities across the country. It is the sole community healthcare provider in the majority of the non-urban communities it serves. More information about the company can be found at www.LifePointHealth.net.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements include any statements that address future results or occurrences. In some cases you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “would,” “should,” “could” or the negatives thereof. Generally, the words “anticipate,” “believe,” “continue,” “expect,” “intend,” “estimate,” “project,” “plan” and similar expressions identify forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance contained elsewhere in this press release are forward-looking statements. These forward-looking statements include statements that are not historical facts, including statements concerning our possible or assumed future actions and business strategies. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, many of which are outside of our control, which could cause our actual results, performance or achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments. Statements in this press release are made as of the date hereof. New factors emerge from time to time that could cause our actual results to differ, and it is not possible to predict all such factors.
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Media Contact
Michelle Augusty
Vice President, Communications
615-920-7654
Michelle.augusty@lpnt.net
