HMC Capital to buy hospitals from Medical Properties Trust for $802 mln (updated)

Healthco Healthcare and Wellness Reit

29/03/2023 22:16

(Adds details on acquisition)
       March 30 (Reuters) - Australian asset manager HMC
Capital Ltd  HMC.AX  said on Thursday it will buy 11 private
hospitals from U.S.-based Medical Properties Trust  MPW.N  for
A$1.20 billion ($802.08 million).    
    The hospitals are currently managed by Healthscope, the
second-largest private hospital operator in Australia. 
    HMC Capital, earlier known as Home Consortium, will raise
A$320 million to fund the deal and plans to split the properties
between its listed entity - Healthco Healthcare and Wellness
REIT  HCW.AX  - and a newly created healthcare fund.     
        Medical Properties had acquired the 11 hospitals in
Australia from Healthscope back in 2019 for $859 million, but
leased them back to the private hospital operator to manage
daily operations. 
        Based in Birmingham, Alabama, Medical Properties Trust
is the second-largest non-governmental owner of hospitals in the
world with properties across the U.S., UK, Switzerland, Germany
and Australia, according to its website.

($1 = 1.4961 Australian dollars)

 (Reporting by Rishav Chatterjee and Jaskiran Singh in
Bengaluru; Editing by Devika Syamnath)
 ((Rishav.Chatterjee@thomsonreuters.com;))