US-based Medical Properties Trust (MPT) has signed an agreement to acquire private equity firm GTCR’s portfolio company Capella Healthcare for $900m in cash.
GTCR, along with founder Dan Slipkovich, established Capella to purchase acute-care hospitals to provide services in rural and suburban markets.
GTCR principal Josh Earl said: "Over the past 18 months, we have further advanced this mission with CEO Mike Wiechart, continuing Capella’s tradition of delivering operational, clinical and financial expertise to community hospitals."
Based in Franklin, Tennessee, Capella owns and runs acute care and speciality hospital facilities in six states of the US.
Capella is claimed to be a premier provider of healthcare services and one of the largest for-profit hospital companies in the country.
Capella Healthcare CEO Michael Wiechart said: "Since our founding back in 2005, GTCR has been an exceptional partner in helping create a company that is built to last and to make a difference in delivering high-quality care in communities across the country."
"As the company moves forward, we are profoundly grateful for the leadership, guidance and financial support that GTCR has provided."
Subject to customary regulatory approvals, the deal is expected to be completed in the second half of this year.
MPT is involved in acquiring and developing facilities, including acute care hospitals, inpatient rehabilitation hospitals, long-term acute care hospitals, and other medical and surgical facilities.