Hospital Landlord MPT Seeks Control of California Entities

Medical Properties Trust Inc., one of the largest hospital landlords in the US, has moved to take control of three Southern California health care entities after accusing the owner — Prospect Medical Holdings — of defaulting on debt.

MPT has demanded that the board members of three units resign so they can be replaced by MPT-designated independent managers, according to a Nov. 18 letter to Prospect from MPT, a copy of which was seen by Bloomberg News. The company also warned Prospect that MPT could still foreclose on the properties if the debt default is not cleared.