– The exit frees up capital and pays off debt, positioning the firm for operational growth –
April 15, 2024 09:00 AM Eastern Daylight Time
HOUSTON–(BUSINESS WIRE)–ZT Corporate, a private equity firm that specializes in healthcare and automotive investments, today announced that it has successfully exited its remaining healthcare real estate assets for its portfolio entity, Altus Community Healthcare, to a prominent Real Estate Investment Trust (REIT). Altus is the largest privately held emergency rooms operator in the U.S. This sell-leaseback transaction encompasses seven acute-care facilities in Texas.
The transaction involves Altus selling its emergency room and micro-hospital facilities and simultaneously leasing them back for a long-term period. This partnership allows Altus to unlock the equity tied up in its real estate assets and de-levering its balance sheet by paying off debt while continuing to operate and provide top-tier healthcare services without interruption.
The infusion of capital will also accelerate Altus’ plans for modernizing infrastructure and expanding its services to the community, further solidifying its position as a leader in healthcare delivery.
Taseer Badar, Chairman and Chief Executive Officer of ZT Corporate, said, “Our strength is in managing healthcare operations at a world class level. This real estate divestiture streamlines our focus to areas where we know we are successful. We are in growth mode and by optimizing our balance sheet, we are in a more agile position to capitalize on the exciting opportunities we see in the current market environment.”
Sheheryar Shah, Chief Investment Officer of ZT Corporate, said, “This strategic partnership is a milestone in our mission to enhance healthcare accessibility and innovation.”
Ali Tariq, Managing Director of Investments of ZT Corporate, said, “By leveraging the financial flexibility gained through this transaction, we are better positioned to invest in cutting-edge technologies and expand our services, ultimately delivering superior care to our patients.”
The transaction was facilitated with the legal counsel of Chamberlain, Hrdlicka, White, Williams & Aughtry, P.C., Pasha Law and Anwar-i-Qadeer & Associates, P.C. representing Altus.
About ZT Corporate
Established in 1997, ZT Corporate is a Houston-based private equity firm with offices in New York and Los Angeles. The firm focuses on healthcare and auto dealerships as core investment verticals. ZT Corporate’s investment team collaborates with its operators to support the day-to-day operations of the firm’s portfolio investments. This close collaboration drives value creation by developing stronger operator-investor relationships, cross-functional expertise, and a deeper understanding of the target industries. Since its founding, ZT Corporate has successfully completed more than 60+ investments, including platform companies and follow-on opportunities with multiple liquidity events for its investors. For more information: www.ztcorporate.com
Contacts
Victoria Cook
Pierpont Communications for ZT Corporate
vcook@piercom.com, 713-627-2223
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