Hospital systems Steward Health Care and Prospect Medical Holdings, among the largest tenants of health care real estate owner Medical Properties Trust, have brought on financial advisers to help refinance credit lines after some recent financial struggles, WSJ Pro Bankruptcy reported. Steward has hired Guggenheim Securities to refinance asset-based loans due at the end of this year. Prospect Medical is being advised by Houlihan Lokey on a refinancing effort. Past private-equity owners of Prospect and Steward each sold health facilities and real estate belonging to each company years ago to MPT in deals that left the hospital systems paying rent on property they previously owned. MPT, one of the country’s largest health care landlords, has itself faced questions about its exposure to Steward and Prospect after a challenging period for hospitals.
