Queen's Medical Center Finalizes Acquisition of Hawaii Medical Center-West
Queen's Medical Center in Honolulu has finalized a deal with Honolulu-based St. Francis Healthcare System of Hawaii to acquire and reopen the shuttered Hawaii Medical Center-West in Ewa Beach, according to a Star Advertiser report.
According to regulatory filings with the State Health Planning and Development Agency, Queen's has agreed to purchase and renovate Hawaii Medical Center-West for $73.2 million. Approximately $21.2 million will go toward the land and building, and $25 million has been marked for the expansion and modernization of emergency, surgical and imaging services, according to the report. An additional $27 million will go toward equipment purchases for the hospital.
According to the report, Queen's has indicated it will pay $25.2 million in cash and finance the remaining $48 million. The hospital plans to hire 400 employees to staff the emergency room and other hospital operations.
Queen's signed a letter of intent to acquire Hawaii Medical Center-West in May. The closing date of the sale is set for October.
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