OTTUMWA — Ottumwa Regional Health Center has a new landlord.
It was one of 10 hospital campuses impacted when LifePoint Health, ORHC’s parent company, completed what the hospital calls “a sale leaseback transaction with Medical Properties Trust, Inc.,” according to a statement provided by ORHC.
Public land transfer records indicate a a Jan. 6 transaction worth more than $57 million. It includes 11565 Bladensburg Road; 931 E. Pennsylvania Ave.; 935 E. Pennsylvania Ave.; 1001 E. Pennsylvania Ave.; 1011-1013 E. Pennsylvania Ave. (buildings only); and various land parcels.
The ORHC statement says that LifePoint already has an existing relationship with MPT, with the buyer owning real estate of hospitals within the LifePoint system for many years.
“Working with companies like MPT is very common for health care companies today. It is a financial strategy that allows providers to focus more of their resources on clinical care and the services they provide their communities,” it says.
“The completion of this transaction will be seamless for employees, physicians and patients. There will not be any changes in our operations.”