Medical Properties Trust, Inc. (NYSE: MPW) has announced its agreement to sell its Healthscope Portfolio, causing a surge in the company's stock price.
MPW shares are trading higher following the announcement of the sale of its Australian hospital properties for $1.2 billion. The deal includes 11 hospitals and more than 1,000 beds.
John P. Bryant, Chairman and CEO of MPW said in a statement: "This transaction marks another important milestone in our relationship with Healthscope as we continue to execute on our strategy of providing flexible capital solutions to healthcare providers globally."
The sale is expected to close within the first half of 2022 after receiving regulatory approvals.
As a result of this development, MPW's stock climbed higher by over 6% during early trading hours on Wednesday.
Investors are optimistic about this move by MPW as it is expected to provide additional funds for future investments and enhance shareholder value.
The healthcare real estate investment trust (REIT) aims at providing capital solutions that enable healthcare facilities' modernization efforts while also improving patient outcomes through state-of-the-art technology and infrastructure upgrades.
Overall, Medical Properties Trust remains committed to delivering high-quality care for patients across the globe while maintaining growth opportunities for investors through strategic moves like these.
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