28 January 2020 – Expansión
HM Hospitales has signed the first sale and leaseback transaction in the hospital sector in Spain. The Spanish hospital group has created a joint venture with the US investment firm Medical Properties Trust (MPT) to enable the injection of capital to finance its growth.
By virtue of the agreement, HM Hospitales will contribute 2 of its centres in Madrid – the University Hospital HM Sanchinarro and HM Torrelodones – together worth more than €250 million to the joint venture, in which it will retain a controlling stake. HM Hospitales will continue to operate those two hospitals on a long-term basis and may decide to include other assets in the JV at a later date.
HM Hospitales has 17 hospitals, 4 specialist centres and 21 polyclinics and closed 2019 with revenues of almost €450 million. Meanwhile, Medical Properties Trust, which is based in Birmingham, Alabama and listed on the New York stock exchange, is one of the largest hospital owners in the world with 390 properties and approximately 42,000 beds.
Original Story: Expansión
Translation/Summary: Carmel Drake