National Medical Enterprises increased its ownership in Centro Medico Teknon, a 219-bed hospital in Barcelona, Spain, to 100% from 50%. The Santa Monica, Calif.-based company purchased the other half of the hospital from a local partnership. Terms weren't disclosed. The private hospital is NME's only European facility.
Charter Medical Corp.'s Group Practice Affiliates subsidiary has signed a long-term management agreement with Northern Virginia Psychiatric Group, a Fairfax, Va.-based group of 25 clinicians. Terms weren't disclosed, although the Charter unit agreed to buy the group's assets and provide management services. Macon, Ga.-based Charter, the nation's largest psychiatric hospital chain with 102 facilities, established Group Practice Affiliates to acquire and manage group practices in mental health.
Healthcare Realty Trust, Nashville, Tenn., has acquired Deering Medical Plaza in South Dade County, Fla., for $4.8 million. The ancillary services facility, adjacent to 190-bed Deering Hospital, is leased to Columbia/HCA Healthcare Corp. The real estate investment trust also has acquired two Columbia/HCA Healthcare Corp. properties in Richmond, Va., in a deal valued at $22.3 million. The two medical office buildings are adjacent to 292-bed Johnston-Willis Hospital and 508-bed Chippenham Hospital, which are leased to Columbia/HCA. The trust has agreed to fund construction of Trinity Valley Birthing Center in Palestine, Texas, as well. The $2.7 million facility will be connected to 114-bed Trinity Valley Medical Center. The property is leased to OrNda HealthCorp. Healthcare Realty Trust owns 45 properties leased to 15 providers.
Community Psychiatric Centers, Laguna Hills, Calif., reported a 32% drop in earnings to $2.4 million, or 6 cents per share, for the second quarter ended May 31 compared with $3.5 million, or 8 cents per share, in the year-ago period. Revenues grew 26% to $108.8 million. For the six-month period, the company reported net income of $3 million, or 7 cents per share, compared with a net loss of $34.4 million, or 80 cents per share, in the year-ago period. Revenues rose 18% to $201.3 million. The company attributed the slip in earnings to start-up costs at its Transitional Hospitals Corp. facilities. That subsidiary, which operates 12 hospitals for long-term, chronically ill patients, reported a $4 million loss in the second quarter.
Omega Healthcare Investors, an Ann Arbor, Mich.-based real estate investment trust, recently completed $24.1 million in investments. A $5.6 million mortgage loan went to Tiffany Care Centers, Mound, Mo., for five nursing homes with 300 licensed beds and 30 assisted living beds. Omega also purchased five nursing homes with 660 beds for $18.5 million from three affiliates of ISC Realty Corp. in Charlotte, N.C. The facilities are operated by Liberty Healthcare, Atlanta, and Tutera Management Co., Kansas City, Mo. Omega has $277 million invested in 94 long-term-care facilities in 17 states.
LTC Properties recently closed $32.4 million in investments. These include the $23 million purchase of five newly constructed nursing homes with 600 beds and a $3.5 million permanent mortgage loan for a 90-bed skilled-nursing facility. The six Florida facilities will be managed by Horizon Healthcare Corp. The Oxnard, Calif.-based real estate investment trust also closed two mortgage loans totaling $5.9 million, which are backed by two skilled-nursing facilities in Arizona and California. LTC Properties has investments in 152 nursing homes in 22 states with 17,785 beds and 120 assisted-living units.