Months ago Kelly Brewer at Pink Hollyhock reported Shasta Regional Medical Center’s parent company put the Redding hospital up for sale for about $100 million.
Credit Jim Gore, ever-observant techie team member, for ferreting out this locally relevant excerpt from many pages of the Medical Properties Trust, second quarter, 2008 earnings call transcript (August 7th, 2008) in which Shasta Regional Medical Center’s sale status is mentioned:
Question from Karin Ford (KeyBanc Capital Markets):
Q: Okay, can you give us an update on the sale of the Shasta Hospital?
Ed Aldag (Chairman, President and CEO, Medical Properties Trust):
Well, we are not involved in that sale. Just to make it perfectly clear HPA is managing that sale. They are communicating with us. And it is our understanding from them that they have gotten at least one letter of intent, the details of which we haven’t seen but we understand it is a relatively encouraging offer. They started marketing that property probably in mid June and so six weeks later is probably a little early to measure what the results maybe although as I say the initial results and of course of own evaluation of the value of that property remain encouraging.
