UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 6, 2019
MEDICAL PROPERTIES TRUST, INC.
MPT OPERATING PARTNERSHIP, L.P.
(Exact Name of Registrant as Specified in Charter)
Maryland Delaware |
001-32559 333-177186 |
20-0191742 20-0242069 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I. R. S. Employer Identification No.) |
1000 Urban Center Drive, Suite 501
Birmingham, AL 35242
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (205) 969-3755
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Securities Act:
Title of each class |
Trading Symbols(s) |
Name of each exchange on which registered | ||
Common Stock, par value $0.001 per share, of Medical Properties Trust, Inc. | MPW | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On June 6, 2019, Medical Properties Trust, Inc. (the Company) issued a press release announcing that the Company has completed the previously announced transactions with Healthscope Ltd. (Healthscope) described below in Item 8.01 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information contained in this Item 7.01 and exhibits thereto are being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of Section 18. The information in this Item 7.01, including the exhibits thereto and referenced materials posted to the Companys website, shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as otherwise expressly stated in any such filing.
Item 8.01. | Other Events. |
Acquisition of Healthscope Hospital Portfolio
On June 6, 2019, affiliates of the Company completed the previously announced AUD1.2 billion acquisition of the real estate interests of 11 Australian hospitals operated by Healthscope. The facilities are leased to Healthscope pursuant to master lease agreements that have an average initial term of 20 years with annual fixed escalations and multiple extension options.
The table below sets forth pertinent details with respect to the hospitals that were acquired in the Healthscope portfolio:
Hospital |
City | State | Hospital Type | Licensed Beds |
||||||||||||
Knox Private Hospital |
Wantirna | Victoria | Acute | 359 | ||||||||||||
Mount Hospital |
Perth | Western Australia | Acute | 224 | ||||||||||||
Nepean Private Hospital |
Kingswood | New South Wales | Acute | 109 | ||||||||||||
Northpark Private Hospital |
Bundoora | Victoria | Acute | 144 | ||||||||||||
Sydney Southwest Private Hospital |
Liverpool | New South Wales | Acute | 87 | ||||||||||||
Campbelltown Private Hospital |
Campbelltown | New South Wales | Acute | 82 | ||||||||||||
Sunnybank Private Hospital |
Sunnybank | Queensland | Acute | 122 | ||||||||||||
Ringwood Private Hospital |
Ringwood | Victoria | Acute | 75 | ||||||||||||
Pine Rivers Private Hospital |
Strathpine | Queensland | Psychiatric | 81 | ||||||||||||
The Geelong Clinic |
St Albans Park | Victoria | Psychiatric | 52 | ||||||||||||
The Victorian Rehabilitation Centre |
Glen Waverley | Victoria | Rehabilitation | 143 | ||||||||||||
|
|
|||||||||||||||
Total Licensed Beds |
1,478 | |||||||||||||||
|
|
The Company financed the acquisition with an AUD1.2 billion unsecured five-year term, Australian-denominated loan with a syndicate of banks.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits. |
Exhibit No. |
Description | |
99.1 | Press Release dated June 6, 2019 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunder duly authorized.
MEDICAL PROPERTIES TRUST, INC. | ||
By: | /s/ R. Steven Hamner | |
Name: | R. Steven Hamner | |
Title: | Executive Vice President and Chief Financial Officer |
Date: June 12, 2019
MPT OPERATING PARTNERSHIP, L.P. | ||
By: | /s/ R. Steven Hamner | |
Name: | R. Steven Hamner | |
Title: | Executive Vice President of the sole member of the general partner of MPT Operating Partnership, L.P. |
Date: June 12, 2019
Exhibit 99.1
Contact: Tim Berryman Director Investor Relations Medical Properties Trust, Inc. (205) 969-3755 tberryman@medicalpropertiestrust.com |
MEDICAL PROPERTIES TRUST COMPLETES A$1.2 BILLION INVESTMENT
IN ELEVEN HEALTHSCOPE HOSPITALS
Birmingham, AL June 6, 2019 Medical Properties Trust, Inc. (the Company or MPT) (NYSE: MPW) today announced that it has completed the previously announced A$1.2 billion acquisition of the real estate interests of 11 Australian hospitals operated by Healthscope Ltd.
The Company financed the acquisition with a A$1.2 billion unsecured five-year term, Australian-denominated loan with a syndicate of banks.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to acquire and develop net-leased hospital facilities. MPTs financing model facilitates acquisitions and recapitalizations and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations. For more information, please visit the Companys website at www.medicalpropertiestrust.com.
The statements in this press release that are forward looking are based on current expectations and actual results or future events may differ materially. Words such as expects, believes, anticipates, intends, will, should and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results of the Company or future events to differ materially from those expressed in or underlying such forward-looking statements, including without limitation: the satisfaction of all conditions to, and the timely closing (if at all) of pending transactions; the amount of acquisitions of healthcare real estate, if any; results from potential sales and joint venture arrangements, if any; capital markets conditions; estimated leverage metrics; the repayment of debt arrangements; statements concerning the additional income to the Company as a result of ownership interests in equity investments and the timing of such income; the payment of future dividends, if any; completion of additional debt arrangements, and additional investments; national and international economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of the Companys business plan; financing risks; the Companys ability to maintain its status as a REIT for income tax purposes; acquisition and development risks; potential environmental and other liabilities; and other factors affecting the real estate industry generally or healthcare real estate in particular. For further discussion of the factors that could affect outcomes, please refer to the Risk factors section of the Companys Annual Report on Form 10-K for the year ended December 31, 2018 and as updated by the Companys subsequently filed Quarterly Reports on Form 10-Q and other SEC filings. Except as otherwise required by the federal securities laws, the Company undertakes no obligation to update the information in this press release.
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