The headlines are popping up – “Mesa hospital acquired as part of $160M Deal.” But, those headlines are a bit click-baity. The hospital was acquired, but it was by the tenant who has been operating it.
The hospital was originally built (and funded) by Medical Properties Trust for Adeptus Health between 2015 and 2017 at a cost of $92 million. However, in 2017, Adeptus Health filed for bankruptcy. Fortunately for the community, and for the corner of Ellsworth and Elliot, Dignity Health saw the viability of a 50 bed hospital at this location and leased the facilities, operating as Dignity Arizona General Hospital.
As part of a $160 million transaction, Dignity Health has purchased eight healthcare facilities in Arizona from Medical Properties Trust, including Arizona General Hospital and seven freestanding emergency departments in Phoenix Metro. They will continue to operate the hospital at Ellsworth and Elliot as usual, but now as the owner of the building rather than the tenant.
