The Property of Five Utah Hospitals has Changed Hands in a Transaction that Values them at Just Under $1.2 Billion

A 75% ownership stake in the real estate of 1) Davis Hospital and Medical Center, 2) Jordan Valley Medical Center, 3) Jordan Valley Medical Center-West Valley Campus, 4) Mountain Point Medical Center, and 5) Salt Lake Regional Medical Center have been sold by Alabama's Medical Properties Trust to a newly formed, yet unnamed, Joint Venture for $886 million, a transaction that values the land and properties of the five healthcare providers at nearly $1.2 billion.

Birmingham, Alabama-based Medical Properties Trust (NYSE:MPW) has sold 75% of its ownership of the property and buildings of five Utah hospitals to a newly formed, yet unnamed, Joint Venture in a transaction that values the real estate of the combined hospitals at close to $1.2 billion.

The five hospitals in question are listed below in alphabetical order:

1. Davis Hospital and Medical Center (aka, Holy Cross Hospital — Davis) (Layton, Utah);
2. Jordan Valley Medical Center (aka, Holy Cross — Hospital Jordan Valley) (West Jordan, Utah);
3. Jordan Valley Medical Center-West Valley Campus (aka, Holy Cross Hospital — Jordan Valley West) (West Valley City, Utah);
4. Mountain Point Medical Center (aka, Holy Cross Hospital —Mountain Point) (Lehi, Utah); and
5. Salt Lake Regional Medical Center (aka, Holy Cross Hospital) (Salt Lake City, Utah.

[NOTE: On 15 February 2023, Colorado-based Centura Health announced it would purchase the management and operations of these same five Utah-based hospitals from Steward Health Care via Centura's Catholic sponsor, CommonSpirit Health, with each being rebranded last year under the Holy Cross Hospital brand name. This purchase closed on 1 May 2023.]

The community and patients of these five CommonSpirit — Holy Cross Hospitals are served by over 3,100 professional healthcare providers.

As of today, MPT maintains a 25% ownership stake in the real estate of the five Utah hospitals name in this report.

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