MPT said Springstone’s senior management team will continue, led by Executive Chairman Bill Wilcox, CEO Phil Spencer and CFO Greg Miller. “The Springstone investments give MPT a major presence in the rapidly expanding United States behavioral health care market, which has been underserved in our society despite importance on the same level as acute and post-acute care hospitals,” MPT Chairman, President and CEO Edward K. Aldag, Jr., said. “MPT’s acquisition of the 18 purpose-built inpatient facilities, much like our recent investment in the Priory portfolio in the United Kingdom, appropriately targets the highest level of acuity within the behavioral care continuum, and we believe that our investment in the operating company will result in additional attractive real estate opportunities.”
Philip Spencer, Springstone’s CEO, said Springstone looks forward to working with MPT “to expand our behavioral healthcare model to serve even more communities.” The deal is expected to close during the second half of this year, subject to conditions.
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