Medical Properties Trust (MPW) 10-Q 2010 Q2 Quarterly report

Exhibit 99.1

PRIME HEALTCARE SERVICES INC.
BALANCE SHEET
As of March 31, 2010

	Prime
	Total
ASSETS:
Cash and Equivalents	$	76,365,323
Accounts Receivable	$	938,218,613
Allowance for Bad Debt		(81,891,022	)
Allowance for Contractuals & Oth Adj		(662,476,061	)
Patient Accounts Receivable	$	193,851,530
Other Receivables	$	4,755,497
Inventories		5,441,904
Other Current Assets		3,990,071
Current Portion of Long-Term Notes Receivable		(0	)
Prepaid Insurance		53,423,354
Other Pre-Paid Expenses		5,439,772
Total Current Assets	$	343,267,451
Land and Improvements	$	38,515,973
Buildings and Improvements		66,506,814
Leaseholds		13,309,597
Equipment		154,196,709
Construction-In-Progress		11,059,621
Property and Equipment	$	283,588,713
Less: Accumulated Depreciation		(76,151,285	)
Net Property and Equipment	$	207,437,429
Investments in Property Plant & Equipment	$	11,813,481
Less: Accumulated Depreciation		0
Net Investments in Property, Plant & Equip	$	11,813,481
Long-term notes	$	0
Net goodwill		13,707,802
Other intangible assets		0
Total Long-Term Assets	$	232,958,711
TOTAL ASSETS	$	576,226,163
LIABILITIES:
Accounts Payable	$	40,323,930
Notes Payable		0
Capital Leases		5,833,621
Accrued Payroll		14,579,798
Accrued PTO		24,812,740
Accrued Payroll Taxes		6,210,627
IBNR		5,208,029
Other Accrued Expenses		2,310,499
Third-Party Settlements		(7,888,358	)
Lines of Credit & Other Short-Term Debt		17,297,377
Current Portion of Long-Term Debt		1,189,267
Other Liabilities		3,642,961
Total Current Liabilities	$	113,520,492
Mortgages and Long-Term Notes Payable	$	213,517,237
Total Intracompany	$	(3,324,017	)
Deferred Credits	$	6,537,716
Deferred Taxes		0
Other Long-Term Liabilities		16,291,258
Total Long-Term Liabilities	$	233,022,194
TOTAL LIABILITIES	$	346,542,686
EQUITY:
Common Stock	$	2,130,000
Additional Paid-in Capital		13,027,889
Other Equity		0
Retained Earnings PY		159,210,350
Distributions		0
Net Income		22,713,898
Non — Controlling Interest		32,601,341
TOTAL EQUITY	$	229,683,478
TOTAL LIABILITIES AND EQUITY	$	576,226,163

PRIME HEALTHCARE SERVICES INC.
CONSOLIDATED INCOME STATEMENT
YEAR TO DATE MARCH 31, 2010

	Qtr 1 - March 31, 2010			Qtr 1 - March 31, 2009
REVENUE
NET PATIENT REVENUE	$	367,540,580		$	400,410,830
CAPITATION REVENUE		5,999,452			5,522,210
OTHER REVENUE		2,278,136			3,423,580
TOTAL OPERATING REVENUE		375,818,168			409,356,620
OPERATING EXPENSES
COMPENSATION AND EMPLOYEE BENEFITS		136,986,436			149,353,064
PROVISION FOR DOUBTFUL ACCOUNTS		80,083,895			129,880,817
GENERAL AND ADMINISTRATIVE		29,912,355			41,758,368
SUPPLIES		33,171,756			34,376,926
PROFESSIONAL SERVICES		26,627,302			8,231,922
DEPRECIATION / AMORTIZATION		7,129,389			5,486,707
MEDICAL CLAIMS		80,498			1,524,379
TOTAL OPERATING EXPENSES		313,991,631			370,612,182
NET OPERATING INCOME (LOSS)		61,826,537			38,744,437
INTEREST		6,331,298			5,797,567
INCOME TAX EXPENSE		180,000			713,320
Income Before Allocation to Non-Controlling		55,315,239			32,233,551
Interest
Allocation of Income to Non-Controlling		(32,601,341	)		(18,095,803	)
Interest
NET INCOME (LOSS)		22,713,898			14,137,748

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PRIME HEALTHCARE SERVICES INC.
CONSOLIDATED CASH FLOWS STATEMENT
YTD FOR THE PERIOD ENDED 3/31/10

	March YTD 2009			March YTD 2010
	Prime			Prime
	Total			Total
Cash Flows from Operating Activities:
Change in Net Income	$	32,233,550		$	55,315,239
Adj from Operating Activities:
Depreciation and Amortization	$	5,489,229		$	6,919,460
Other Deferred Income/Expense		(799,304	)		218,983
(Increase)/Decrease in Assets:
Patient Accounts Receivable	$	(25,964,396	)	$	(3,908,689	)
Supplies Inventory		(463,193	)		(292,514	)
Pre-Paid Expenses & Oth Current Assets		3,326,089			4,750,967
Other Receivables		460,148			(42,807	)
Long-Term Receivables		726,669			0
Increase/(Decrease) in Liabilities:
Accounts and Notes Payable	$	(5,667,725	)	$	(7,322,217	)
Accrued Payroll Costs		(7,079,419	)		7,891,081
IBNR		(1,071,166	)		(186,298	)
Other Accrued Liabilities		2,663,118			(111,495	)
Estimated 3rd Party Settlements		3,217,702			(1,131,460	)
Net Cash From (For) Operating Activities	$	7,071,304		$	62,100,249
Cash Flows from Investing Activities:
Capital Expenditures	$	(6,327,459	)	$	(8,864,506	)
Payments to Acquire Other Assets		0			13,889
Net Cash From (For) Investing Activities	$	(6,327,459	)	$	(8,850,617	)
Cash Flows from Financing Activities:
Funds Provided (to) from Intercompany	$	5,571,607		$	(16,365,882	)
Funds Provided (to) from Related Party		(10,120,670	)		13,850,587
Borrow (Re-Payment) of Debt		(8,604,084	)		(18,901,882	)
Capital Lease Obligations (Re-Payment)		1,627,529			(1,470,595	)
Parent Contributions / (Distributions)		(9,750,001	)		(0	)
Payments for Acquisition		0			0
Net Cash From (For) Financing Activities	$	(21,275,620	)	$	(22,887,772	)
Net Change in Cash and Cash Equivalents	$	(20,531,775	)	$	30,361,860
Beginning Cash Balance	$	44,876,687		$	46,003,463
Ending Cash Balance	$	24,344,912		$	76,365,323

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