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Update: Medical Properties Trust Shares Rise After Sale of 2 Idaho Hospitals Closes

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(Updates with stock movement in the headline and first paragraph.)

Medical Properties Trust (MPT) shares rose 7.8% in Thursday trading, a day after the company completed the sale of two Idaho hospital properties to affiliates of Intermountain Health for $413 million.

The company said it received $371 million in cash proceeds for Idaho Falls Community Hospital and Mountain View Hospital with $42 million distributed to minority real-estate owners.

The sale represents a gain of about $130 million over the hospitals' gross book value, Medical Properties Trust said.

The company expects to use a majority of the proceeds to reduce debt.

Price: $3.66, Change: $+0.27, Percent Change: +7.82%

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