Quorum Health Corporation has sold Watsonville Community Hospital to Halsen Healthcare
September 30, 2019
Quorum Health Corporation (“QHC”) has sold 106-bed Watsonville Community Hospital (“WCH”) in Watsonville, CA to Halsen Healthcare (“Halsen”). QHC will use the sale proceeds to repay outstanding principal on its Term Loan Facility.
Cain Brothers, a division of KeyBanc Capital Markets (“Cain Brothers”), acted as financial advisor to QHC on this transaction. Cain Brothers managed a limited marketing process that included potential operating and capital partners. Halsen, in partnership with Medical Properties Trust (“MPT”), acquired the hospital assets in connection with a sale-leaseback transaction. KeyBanc Capital Markets separately acted as a Joint Bookrunner on MPT’s $900 million Senior Notes offering that funded the acquisition of WCH and other facilities.
Through its subsidiaries and affiliates, QHC owns or operates 24 hospitals across 14 states. QHC also operates Quorum Health Resources, a rural hospital management and consulting business.
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