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News Release: News from HRE Capital

$23 Million Capitalization of the Acquisition of a 218-Bed Acute Care Hospital and Structured Parking Facility Located in Dallas, Texas

Transaction Overview

Healthcare Real Estate Capital (“HRE Capital”) served as financial advisor to Pipeline Health (“Pipeline” or “Operator”) related to the acquisition of the City Hospital at White Rock, formerly the Baylor Scott & White Medical Center – White Rock (“White Rock”). White Rock is comprised of a ~230,000 square foot, 218-bed acute-care hospital and parking structure located in Dallas, Texas. Previously owned by a Tenet Healthcare / Baylor Scott & White Health joint venture, the Operator acquired White Rock to enhance its financial and operational performance while continuing its role as a community hospital.

HRE Capital’s Role

On behalf of Pipeline, HRE Capital undertook a competitive effort to identify a well-capitalized investor (“Investor”) positioned to (i) acquire the White Rock real estate simultaneous with the acquisition of the operations, (ii) fund certain near- and long-term improvements to the facility, and (iii) provide a structure to allow the Operator to participate in the potential upside of the White Rock real estate. Due to HRE Capital’s knowledge of the healthcare real estate capital markets and the operational expertise of Pipeline, the selected Investor completed a complex sale / leaseback transaction in a restrictive timeframe while simultaneously meeting many of the client’s goals.

Healthcare Real Estate Capital

HRE Capital is a national advisory firm focused solely on the healthcare real estate sector. Our clients include many of the nation’s top healthcare providers and developers / investors of healthcare real estate. HRE Capital’s focused model provides clients with an unmatched level of relevant experience and independent transaction analysis, structuring and execution capabilities. Providing both consultative and transaction oriented services, including asset / portfolio joint venture structuring, recapitalizations, dispositions and other related real estate advisory services, HRE Capital’s senior management team has been involved with over $9 billion in healthcare real estate transactions.

Pipeline Health

Pipeline is the parent company for a diverse group of healthcare service companies. The culmination of 25 years of clinical and operational experience, Pipeline has crafted the tools and strategies to address a wide range of healthcare challenges through its various affiliated companies which are focused on emergency care, urgent care, telemedicine and hospitalist services, among others.

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