The threat of closing hospitals has caused a public health scare in Massachusetts over the last two weeks, and it has put the financials and operating practices of Steward Health Care under a microscope. But the operator is just one of several that have faced similar issues while renting hospital space from Medical Properties Trust, a landlord under financial pressure of its own. A publicly traded real estate investment trust based in Birmingham, Alabama, MPT says Steward owes it $50M in unpaid rent, and it has loaned the operator tens of millions of dollars to keep it afloat. As it navigates this crisis, the REIT has come under fire from U.S. senators and short sellers criticizing its underlying business practices. 
The REIT has employed a similar strategy with at least three other hospital operators: MPT acquires the properties and leases them back to the operators, and when they can’t pay the full rent, the landlord loans them money. At least two hospitals operated through MPT's sale-leaseback deals have closed.Critics say this business model… Read the full story here. | 
