MPT seeks control of Prospect Medical amid debt default allegations

Medical Properties Trust Inc. (MPT), a prominent hospital landlord in the United States, is making efforts to gain control over three healthcare entities in Southern California.

This action follows MPT"s accusation that Prospect Medical Holdings has failed to meet its debt obligations. In a letter dated November 18, MPT has requested the resignation of the board members of the affected units and proposed replacing them with independent managers chosen by MPT. MPT has also warned Prospect Medical that foreclosure on the properties is still a possibility if the debt default is not resolved.

This situation highlights the ongoing tensions in the healthcare real estate sector as MPT works to safeguard its investments amidst the financial challenges faced by its tenant.

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