Medical Properties Trust, Inc. · NYSE:MPT
Medical Properties Trust — Merger or Acquisition (July 2019)
23 slides from Medical Properties Trust's merger presentation, Jul 15, 2019
Slide 1: Medical Properties Trust Acquires 24 Hospitals for $1.75 Billion
Exhibit 99.2 Medical Properties Trust Acquires 24 Hospitals for $1.75 Billion July 2019Exhibit 99.2 Medical Properties Trust Acquires 24 Hospitals for $1.75 Billion July 2019
Slide 2: Safe Harbor & Disclaimer
Safe Harbor & Disclaimer This presentation contains certain “forward-looking” statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the
Slide 3: A Marquee Year for Medical Properties Trust
A Marquee Year for Medical Properties Trust With the acquisitions described in today’s announcement, MPT has committed $3.0 billion in hospital investments across the globe in 2019 YTD, surpassing its full-year acquisition guidance during the first half of the year $45mm Acquisition of BMI 2019 YTD
Slide 4: A Proven Growth Strategy
A Proven Growth Strategy Acute care real estate opportunity is rapidly expanding Growing Acceptance Large Domestic & Further Accretive Consolidation of of Sale-Leaseback International Opportunities in Hospital Systems Model Among Opportunity Set 2H 2019 and Beyond Not-For-Profit Operators • Substant
Slide 5: Preeminent Global Hospital Real Estate Platform
Preeminent Global Hospital Real Estate Platform Global leader in hospital real estate finance focused on investments in licensed hospitals, unlocking value around the globe to deliver continued shareholder growth Best-in-class acute care portfolio driven Established source of capital for leading by
Slide 6: $3.0bn Cumulative Investments 2019 YTD
$3.0bn Cumulative Investments 2019 YTD On July 15, 2019, Medical Properties Trust announced new acquisitions comprising 2019 transactions include: 24 hospitals for a total investment of $1.75 billion with three new operators • $1.55 billion unsecured bridge loan to support Prospect acquisition Hospi
Slide 7: Strengthening Portfolio Quality Through Diversification
Strengthening Portfolio Quality Through Diversification Operator Asset Type Reduces Steward concentration to 30.3%, from 39.5% Increases general acute care to 79.0%, from 70.5% of total portfolio as of December 31, 2018 as of December 31, 2018 2.2% 6.2% General Acute 6.2% Steward Care 2.9% 10.5% 30.
Slide 8: 2019 YTD Acquisitions Benefits
2019 YTD Acquisitions Benefits Achieves Immediate Establishes New Increases Portfolio Achieves Benefits of Earnings Accretion Operator Relationships Diversification Greater Scale • Transactions expected to be • Adds six new tenants to MPT’s • Reduces exposure to MPT’s • YTD acquisitions of $3.0 bill
Slide 9: $1.75bn Acquisitions Overview
$1.75bn Acquisitions Overview$1.75bn Acquisitions Overview
Slide 10: Prospect Medical Holdings
Prospect Medical Holdings Investment Properties: Investment: 14 Acute care hospitals $1.55 billion 2 Behavioral health facilities Term: Locations: 15-year initial term with three renewal options California, Connecticut and (1) Pennsylvania Operated by: Annual Escalator: Prospect Medical Holdings, In
Slide 11: Prospect Medical Holdings
Prospect Medical Holdings Prospect is a proven operator of community-based hospitals in urban markets and a fundamental player in the acute care national hospital system — Targeting Urban Communities— Award Winning Management Team— Integrated Behavioral Health Services ¡ Mission-critical hospitals i
Slide 12: Select Prospect Hospitals
Select Prospect Hospitals Southern California Hospital at Culver City | Culver City, CA Rockville General Hospital | Vernon, CT Manchester Memorial Hospital | Manchester, CT Cozer-Chester Medical Center | Upland, PA 10Select Prospect Hospitals Southern California Hospital at Culver City | Culver Cit
Slide 13: Saint Luke's Community Hospitals
Saint Luke’s Community Hospitals Investment Properties: Investment: 7 community hospitals $145.4 million Location: Term: Kansas City metropolitan area 14-year initial term with two 5-year renewal options Operated and Guaranteed by: Annual Escalator: Saint Luke’s Health System Average 2% fixed escala
Slide 14: Halsen Healthcare
Halsen Healthcare Investment Properties: Investment: (1) 1 Acute care hospital $40 million Location: Term: California 15-year initial term with three 5-year renewal options Operated by: Annual Escalator: Halsen Healthcare, LLC. Greater of CPI or 2% with a ceiling of 5% • Halsen Healthcare, a newly e
Slide 15: 2019 Completed Acquisitions Previously Announced
2019 Completed Acquisitions Previously Announced2019 Completed Acquisitions Previously Announced
Slide 16: BMI Harbour Hospital
BMI Harbour Hospital Invested Properties: Investment: 1 Acute care hospital $45 million Location: Term: England 14 years remaining Operated by: Annual Escalator: BMI Healthcare Fixed 2.5% • 38-bed acute care hospital located in Poole, England, an affluent coastal city southwest of London • Offers or
Slide 17: Infracore Ownership
Infracore Ownership Acquired: Investment: (1) 46% stake in Infracore SA $410 million Location: Operated by: Switzerland Swiss Medical Network • Infracore SA is a Swiss healthcare real estate company with real estate holdings valued at approximately $900 million • Portfolio consists of 13 acute care
Slide 18: Healthscope
Healthscope Invested Properties: Investment: (1) 11 Hospitals $858 million Locations: Term: MPT Assets – 11 Sydney, Melbourne, Brisbane 20-year weighted average Other Assets – 32 and Perth initial term with multiple extension options Operated by: Annual Escalator: Healthscope Ltd. Fixed 2.5% • Healt
Slide 19: Portfolio Update
Portfolio UpdatePortfolio Update
Slide 20: Portfolio Update
Portfolio Update • Steward integrated operations of IASIS and other acquisitions which Acute Care Hospital expanded the company from Massachusetts to 8 additional states, Rehabilitation Hospital increasing its portfolio to 36 hospitals from 9 facilities Non-MPT Owned Hospital • Generated substantial
Slide 21: Appendix
AppendixAppendix
Slide 22: FFO Run-Rate and Gross Assets Reconciliation
FFO Run-Rate and Gross Assets Reconciliation (1) Annual Run-Rate Guidance – Per Share Low High Net income attributable to MPT common stockholders $1.08 $1.12 Participating securities' share in earnings - - Net income, less participating securities' share in earnings $1.08 $1.12 Depreciation and amor
Slide 23: At the Very Heart of Healthcare
AT THE VERY HEART OF HEALTHCARE
Medical Properties Trust — Merger or Acquisition (July 2019) on 6ix