Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. Founded in Birmingham, Alabama, it has grown into one of the world's largest owners of hospital real estate. As of September 30, 2025, it held 388 facilities with approximately 39,000 licensed beds across nine countries and three continents. Its financing model supports acquisitions and recapitalizations, allowing hospital operators to unlock the value of their real estate assets to fund facility improvements, technology upgrades, and other operational investments.