MultiCare Health System has acquired the real estate assets of Capital Medical Center

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners MultiCare Health System
Capital Medical Center
Medical Properties Trust
Our Role Buy-Side Advisor

Summary

Cain Brothers, a division of KeyBanc Capital Markets, advised MultiCare Health System on its acquisition of the Capital Medical Center real estate assets from Medical Properties Trust. MultiCare acquired the CMC operating company from LifePoint Health and its community physician partners in March of 2021. The transaction received regulatory approvals and closed effective December 20, 2021.

Cain Brothers was retained by MultiCare as its investment banking advisor to advise MultiCare on the acquisition of Capital Medical Center and purchase of the hospital real estate from MPT. Cain Brothers brought deep domain expertise in the hospital and health system industry and a strong understanding of the healthcare real estate market. This transaction will allow MultiCare to expand its growing footprint in Washington and to serve the Thurston County region.

Capital Medical Center is a 107-bed community hospital that opened in 1985.

MultiCare is a not-for-profit health care organization that has been caring for communities in Washington state since the founding of Tacoma’s first hospital in 1882. MultiCare has grown into the largest, not-for-profit, community-based, locally-owned health system in the state of Washington. MultiCare currently operates 11 hospitals in both the greater Puget Sound and Inland Northwest Regions of Washington.

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to acquire and develop net-leased hospital facilities. From its inception, the Company has grown to become one of the world’s largest owners of hospitals with 444 facilities and roughly 47,000 licensed beds in nine countries and across four continents. MPT’s financing model facilitates acquisitions and recapitalizations and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations.

Cain Brothers

MultiCare Health System

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