On February 23, 2023, Medical Properties announced its fourth quarter and full year 2022 financial results. Among other items, the Company disclosed an impairment of approximately $171 million on four properties leased to Prospect Medical Holdings and announced a plan to write off about $112 million in unbilled rent from the same client.
On this news, Medical Properties’ stock price fell $1.06 per share, or 8.69%, to close at $11.14 per share on February 23, 2023.