Queen's Medical Center Finalizes Acquisition of Hawaii Medical Center-West
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.
More Articles on Hawaii Medical Center-West Acquisition:Queen's Health Systems May Spend $73.2M to Acquire Hawaii Medical Center-West
Medical Group, Former St. Francis CEO Submit Letter of Intent for Former Hawaii Medical Facilities
Queen's Health Systems in Hawaii May Acquire Hawaii Medical Center-West
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.