MedEquities Realty Trust (MRT) expects to raise $259 million in an initial public offering on Thursday, September 29th. The company will be issuing 19,900,000 shares at a price of $12.00-$14.00 per share.
In the last year, MedEquities Realty Trust generated $50 million in revenue and $700,000 in net income. The company has a market cap of $393.3 million.
FBR, J.P. Morgan, Citigroup, KeyBanc Capital Markets, Raymond James and RBC Capital Markets served as the underwriters for the IPO and JMP Securities, Fifth Third Securities and Capital One Securities were co-managers.
MedEquities Realty Trust provided the following description of their company for its IPO: “As of the date of this prospectus, our portfolio is comprised of 21 healthcare facilities, including two long-term acute care hospitals, two acute care hospitals, 15 skilled nursing facilities, one medical office building and one assisted living facility, which we acquired for an aggregate gross purchase price of $452.9 million, and two healthcare-related debt instruments in the aggregate principal amount of $28.0 million. In addition, we have two transactions under contract, consisting of Graham Oaks and Vibra Rehabilitation Hospital of Amarillo, and an option to purchase Kearny Mesa for an initial aggregate purchase price of $46.0 million. Upon the acquisition of our properties under contract, our portfolio will be comprised of 24 healthcare facilities with an initial aggregate gross purchase price of $498.9 million and a total of 2,308 licensed beds located in Texas, California, Nevada and South Carolina, including 17 skilled nursing facilities, two acute care hospitals, two long-term acute care hospitals, one assisted living facility, one inpatient rehabilitation facility and one medical office building. “.
MedEquities Realty Trust was founded in 2014 and has 11 employees. The company is located at 3100 West End Avenue, Suite 1000, Nashville, TN 32703, US and can be reached via phone at (615) 627-4710 or on the web at http://www.medequities.com.
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