Heng Fai Enterprises (00185) said its 94% owned subsidiary Global Medical REIT Inc agreed to purchase medical facility and assets from LTACH Landlord, LLC at US$21.71 million (equivalent to about HK$168 million).
The medical facility is a five-year-old 41,113-square-foot hospital building. The hospital operator and tenant is Select Medical Corporation, a New York Stock Exchange-listed company that manages nearly one hundred American hospitals. The 56-bed facility serves patients with prolonged serious medical conditions who require intense and special treatment longer than 25 days.
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