Medical Properties Trust Inc. (NYSE: MPW) is spending $900 million to buy GTCR’s Capella Healthcare Inc., a for-profit hospital business.

Chicago private equity firm GTCR formed Capella in partnership with chairman and long-time hospital executive Dan Slipkovich in 2005 to buy acute-care hospitals in rural and suburban markets. Now, the Franklin, Tennessee-based business owns locations in six states.

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