Omega Healthcare Investors Inc., a U.S. real estate investment trust company, has concluded the purchase of peer MedEquities Realty Trust Inc. for $600 million.
Under the cash and stock transaction, each MedEquities share was converted into the right to receive 0.235 of an Omega share plus $2 cash.
With the deal, Omega Healthcare adds 34 properties, mostly skilled nursing care facilities, to its healthcare-focused real estate portfolio of 891 properties in 41 states and the UK.
Additionally, MedEquities’ properties are located in seven states and operated by 11 different companies. Moreso, Omega Healthcare Investors' revenue grew 1.6 percent to $223.7 million.