Meditrust Completes $500 Million of Asset Sales

OPEN MINDS On-Line News The Meditrust Companies has recently completed health care asset sales and mortgage repayments of approximately $500 million, generating total proceeds since the announcement of its reorganization plan in January 2000 of $959 million. The net book value of Meditrust's remaining health care assets is approximately $1 billion. The early repayment of mortgages related to 100 facilities and the purchase of one facility by Life Care Centers of America, Inc. and Health Asset Realty Trust, generated total proceeds of $500 million. This transaction involved 96 long-term care facilities, three assisted living facilities, and two . . .