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Banner Health adds 29th hospital

Wyoming Medical Center in Casper has officially joined Phoenix-based Banner Health, the organizations said this week.

The transaction makes Wyoming Medical Center Banner's flagship hospital in Wyoming. It is also the 29th hospital under Banner's umbrella. 

The two organizations agreed July 14 to move forward with a deal, valued at $200 million. The agreement came less than six months after they signed a letter of intent.  

Under the agreement, Banner will purchase the hospital, land and equipment for $157 million and eliminate about $50 million of the hospital's debt. 

Banner also committed to investing $100 million into the medical center and its facilities over 10 years.

On Aug. 13, the Natrona (Wyo.) County Commissioners voted unanimously to approve the sale, after the Wyoming Medical Center hospital board also approved it.

Banner has begun integrating the Wyoming hospital but said Jan. 1, 2022, is when the medical center will be fully integrated into the system. 

More articles on healthcare industry transactions: 
Illinois system to join Northwestern Medicine
FTC urges Texas regulators to block CHS' divestiture of 2 hospitals
Michigan lawmakers urge Beaumont, Advocate Aurora not to merge

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