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Omega Healthcare Investors Closes USD 600m Acquisition of MedEquities Realty Trust
Friday 17 May 2019

17 May 2019 - Real estate investment trust Omega Healthcare Investors, Inc. (NYSE: OHI) has closed the acquisition of all outstanding shares of REIT MedEquities Realty Trust, Inc. (NYSE: MRT) in a merger agreement valued at approximately USD 600m, the company said.

Under the terms of the agreement, MedEquities stockholders will receive a fixed exchange ratio of 0.235 Omega common shares plus USD 2.00 in cash for each share of MedEquities common stock held by them, which represents a value of USD 10.26 per MedEquities share based on the USD 35.15 closing price for Omega common stock on December 31, 2018.

The transaction further diversifies Omega's assets and operators, and reinforces its commitment to the skilled nursing and senior housing industry, while adding new asset types to its portfolio.

Omega invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all regions within the US, as well as in the UK.

MedEquities Realty Trust invests in a mix of healthcare properties and healthcare-related real estate debt investments within the acute, post-acute and behavioral sectors of healthcare services.

Bryan Cave Leighton Paisner LLP is serving as legal advisor to Omega. Morrison and Foerster LLP is serving as legal advisor and Citigroup Global Markets Inc. is serving as exclusive financial advisor to Omega.
Date Published: 17/05/2019
Target: MedEquities Realty Trust, Inc
Country: USA
Deal Size: 600m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Buyer: Omega Healthcare Investors, Inc
Buyer Advisor: Bryan Cave Leighton Paisner , Morrison and Foerster , Citigroup Global Markets