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Steward Health Care, the non-public operator of hospitals that filed for chapter in May, introduced an settlement on Friday with Medical Properties Trust (NYSE:MPW), also referred to as MPT, to settle disputes over leasing claims.
According to the settlement, Medical Properties Trust (MPW), the largest hospital landlord within the U.S., will take over Steward’s hospitals topic to its grasp lease and fund all associated operational bills.
Following the sale of those hospitals, the events have agreed to make funds to lenders and collectors with proceeds from the transactions.
The settlement, topic to chapter court docket approval, is anticipated to settle disputes between MPT and Steward over lease obligations.
With a doable listening to scheduled for Sep. 10, Steward, MPT’s greatest tenant, mentioned it might search chapter court docket approval for the deal “as quickly as doable.”
On Thursday, the corporate introduced an settlement to promote six of its hospitals in Massachusetts.
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Source: Seekingalpha