Medical Properties Trust, Inc. entered into definitive agreement to acquire Five General Acute Hospitals in South Florida from Tenet Healthcare Corporation for $900 million.

Medical Properties Trust, Inc. (NYSE:MPW) entered into definitive agreement to acquire Five General Acute Hospitals in South Florida from Tenet Healthcare Corporation (NYSE:THC) for $900 million on June 23, 2021. The acquisition is in conjunction with Steward Health Care System's acquisition of the operations of the facilities. Medical Properties expects to initially fund the total cash consideration using cash on hand, as well as funds from the closing of binding property sales, proceeds from loan repayments, and funds from other anticipated capital recycling transactions with an aggregate value projected to exceed $1 billion.

The consummation of the transaction is subject to customary closing conditions. The transaction is expected to close during the second half of 2021. The transaction is expected to achieve immediate accretion for Medical Properties Trust.