Medical Properties Trust Inc. (NYSE:MPW) Q3 2019 Earnings Conference Call - Final Transcript

Oct 31, 2019 • 11:00 am ET


Medical Properties Trust Inc. (NYSE:MPW) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Q3 2019 Medical Properties Trust Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to your host, Mr. Charles Lambert, the Managing Director. Please go ahead, sir.

Charles Lambert

Thank you and good morning. Welcome to the Medical Properties Trust conference call to discuss our third quarter 2019 financial results. With me today are Edward K. Aldag, Jr., Chairman, President and Chief Executive Officer of the Company and Steven Hamner, Executive Vice President and Chief Financial Officer.

Our press release was distributed this morning and furnished on Form 8-K with the Securities and Exchange Commission. If you did not receive a copy, it is available on our website at in the Investor Relations section. Additionally, we're hosting a live webcast of today's call, which you can access in that same section.

During the course of the call, we will make projections and certain other statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause our financial results and future events to differ materially from those expressed in or underlying such forward-looking statements. We refer you to the Company's reports filed with the Securities and Exchange Commission for a discussion of the factors that could cause the Company's actual results or future events to differ materially from those expressed in this call.

The information being provided today is as of this date only, and except as required by the federal securities laws, the Company does not undertake a duty to update any such information. In addition, during the course of the conference call, we will describe certain non-GAAP financial measures, which should be considered in addition to and not in lieu of comparable GAAP financial measures. Please note that in our press release, Medical Properties Trust has reconciled all non-GAAP financial measures to the most directly comparable GAAP measures in accordance with Reg G requirements. You can also refer to our website at for the most directly comparable financial measures and related reconciliations.

I will now turn the call over to our Chief Executive Officer, Ed Aldag.

Edward K. Aldag

Thank you, Charles. Good morning and thanks to all of you for joining us on today's third quarter earnings call. A year ago, we noted that we anticipated 2019 to be another record year for MPT. As we near the close of 2019 we can certainly say that it's been a fantastic year and we may not be done yet.

Year-to-date we have closed $3.7 billion of transactions, $1.55 billion for Prospect here in the US, $906 million for Healthscope in Australia, $423 million for Ramsay in the UK, $284 million for Swiss Medical Network in Switzerland, $254 million for Vibra in the US, $154 million for Saint Luke's in the US, $55 million for Halsen, Watsonville in the US, $45 million for BMI Harbour