Medical Properties Trust, Inc. Announces New Lease Agreement for Six California Facilities

Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today announced a lease agreement with NOR Healthcare Systems Corp. (“NOR”) in conjunction with NOR’s successful bid for Prospect Medical Group’s (“Prospect”) California operations. The transactions are expected to close in 2025, subject to approval by applicable regulatory agencies.

The six facilities will be subject to a master lease with initial annualized rent of $45 million, virtually identical to Prospect’s once-scheduled 2025 rent, and CPI-based annual rent escalators beginning in 2026. All rent will be deferred for a period of six months, and 50% of rent will be deferred for an additional period of six months, after which the aggregate deferred rent will be paid over the remaining lease term. MPT has committed to fund up to $60 million in seismic improvements as may be required by California regulators over the next four years, which will increase the lease base and result in additional rent at the prevailing lease yield.

Edward K. Aldag, Jr., Chairman, President and Chief Executive Officer, said, “The additional $45 million of annual cash rent expected from these facilities adds to the more than $1 billion of pro rata annualized cash rent we expect from our current portfolio by the end 2026.”

Aldag continued, “Significant competition among multiple capable operators to purchase the operations of these infrastructure-like facilities reflects their history of EBITDAR profitability.”

About Medical Properties Trust, Inc.

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world’s largest owners of hospital real estate with 392 facilities and approximately 39,000 licensed beds in nine countries and across three continents as of June 30, 2025. 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. For more information, please visit the Company’s website at www.medicalpropertiestrust.com.

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