Private equity firm GTCR’s portfolio company Capella Healthcare, is to be acquired by Medical Properties Trust, a Birmingham, Alabama based self-advised real estate investment trust, for USD900 million in cash.
The transaction is expected to close during the second half of 2015, following customary regulatory approvals.
GTCR formed Capella in partnership with Founder Dan Slipkovich in 2005 to acquire acute-care hospitals that serve rural and suburban markets. Today, Capella is a premier provider of healthcare services and one of the largest for-profit hospital companies in the U.S. The Company is dedicated to helping hospitals deliver a new level of healthcare for their communities through innovative market strategies, experienced leadership, and capital investment to grow services and expand the regional influence of each hospital.
“We partnered with Dan Slipkovich to build a national leader in the hospital space,” says GTCR Principal Josh Earl. “Over the past 18 months, we have further advanced this mission with CEO Mike Wiechart (pictured), continuing Capella’s tradition of delivering operational, clinical and financial expertise to community hospitals.”
“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,” says Michael A Wiechart (pictured), President and CEO of Capella Healthcare. “As the company moves forward, we are profoundly grateful for the leadership, guidance and financial support that GTCR has provided. Their investments have positioned the company for our next level of growth and success, which includes four additional hospitals which have chosen us as their future partner and for which diligence is currently in progress.”
“We worked in close partnership with Capella’s management team to create a unique, high-quality platform in the hospital space,” adds GTCR Managing Director Dean Mihas. “We believe MPT is an excellent partner for Capella that will allow the business to continue to thrive and grow.”
