A Medical Device Daily

Medical Properties Trust (MPT; Birmingham, Alabama) reported that it has priced a public offering of 12 million shares of common stock at $15.60 per share.

Of those shares 9 million will be issued directly by MPT and 3 million will be sold by affiliates of certain of the underwriters. The company has granted the underwriters an option to purchase up to an additional 1.8 million shares within a 30-day period, to cover any over allotments.

MPT said it will use part of the $133.1 million net proceeds from the sale of its 9 million shares to fund $91 million of investments from the recently reported financing transaction with affiliates of California-based Prime Healthcare Services.

The company said remaining net proceeds, and any proceeds received upon the settlement of the forward sale agreements, will be used to reduce outstanding debt, make additional healthcare real estate investments, for working capital and other general corporate purposes.

With the offering, MPT entered into forward sale agreements with affiliates of UBS Securities and Wachovia Capital Markets in which these affiliates will borrow and sell an aggregate of up to 3 million shares of the company's common stock.

The joint book-running managers for the offering are: UBS Investment Bank and Wachovia Securities. The co-managers for the offering are Banc of America Securities, JPMorgan and Stifel Nicolaus.

MPT is a self-advised real estate investment trust that acquires and develops net-leased healthcare facilities, such as inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers and other single-discipline healthcare facilities, such as heart hospitals, orthopedic hospitals and cancer centers.

In other financing activity: DaVita (El Segundo, California) reported that it has completed the offering of $400 million aggregate principal amount of senior notes due in 2013.

The senior notes are part of the same series of debt securities as the $500 million aggregate principal amount of 6-5/8% senior notes that were issued in March 2005.

DaVita is a provider of dialysis services for patients suffering from chronic kidney failure. As of Dec. 31, 2006, DaVita operated or managed about 1,300 outpatient facilities serving roughly 103,000 patients.