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Global Medical REIT to Buy Great Bend Regional Hospital in Kansas for USD 24.5m.

MANews-(C)2009-2017

05 January 2017 - US-based healthcare facilities investor Global Medical REIT Inc. (NYSE: GMRE) has entered into a purchase contract to acquire Great Bend Regional Hospital for a purchase price of USD 24.5m, the company said.

GBRH is a 33-bed acute care hospital located in Great Bend, Kansas serving 50,000+ community residents.

The 58,000 square-foot facility is the sole community provider in its medical service area, where it provides services including women's health, surgical, ancillary, hospital, and walk-in treatment.

Closing is expected in 1Q17, at which time the current tenant, Great Bend Regional Hospital, LLC, is expected to enter into a 15-year triple net lease with GGMR expects to fund this acquisition using borrowings from the company's credit facility or other available cash.

Global Medical REIT is engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to leading clinical operators with dominant market share.

The company said it plans to produce increasing, reliable rental revenue by expanding its portfolio, and leasing each of its healthcare facilities to a single market-leading operator under a long-term triple-net lease.

Country: USA

Sector: Construction/Real Estate

Target: Great Bend Regional Hospital

Buyer: Global Medical REIT

Vendor:

Deal size in USD: 24.5m

Type: LBO

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Jan 5, 2017
Words:220
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