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Omega Healthcare & MedEquities Realty Trust to Merge in $600M Deal

Omega Healthcare Investors Inc. and MedEquities Realty Trust Inc. announced their intention to merge in a $600 million deal. As part of the deal, Omega will acquire all of MedEquities’ outstanding shares and fee simple interest in 34 facilities operated by 11 operators in seven states.

Maryland-based Omega is primarily invested in skilled nursing and assisted living facilities, while Nashville-based MedEquities owns a mix of healthcare properties and healthcare-related real estate debt investments within the acute, post-acute, and behavioral sectors of healthcare services. The deal increases Omega’s non-skilled nursing assets modestly by $296 million, including $75 million invested in a hospital leased to a subsidiary of Baylor, Scott & White Health (pictured above).

“This acquisition reinforces our commitment to the skilled nursing and senior housing industry, while adding new asset types to our portfolio furthering our strategic objectives,” said Omega’s CEO Taylor Pickett.

The transaction is expected to close in the first half of 2019. Bryan Cave Leighton Paisner LLP is serving as legal advisor to Omega. Morrison & Foerster LLP is serving as legal advisor, and Citigroup Global Markets Inc. is serving as the exclusive financial advisor to MedEquities.

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  • ◦Sale/Acquisition