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Banner Health to buy another Arizona hospital

Phoenix-based nonprofit Banner Health has signed a letter of intent to purchase Mogollon Health Alliance, which operates Payson (Ariz.) Regional Medical Center.

Under the deal, Banner has committed to making a capital investment of at least $25 million in the 44-bed medical center over the next seven years.

"Banner has served the Payson community for 20 years through the Banner Health Clinic located near Payson Regional Medical Center," said Becky Kuhn, executive vice president for community delivery at Banner. "We will look forward to an opportunity to grow our presence in Payson, and bring the benefits of our infrastructure of innovative clinical care and technology to this region."

MHA has been leasing the hospital to Franklin, Tenn.-based Community Health Services for the last 18 years. However, that lease is set to expire July 31.

More articles on healthcare industry transactions:

Silverton Health in partnership talks with Legacy Health
New California network mimics Kaiser's approach
4 recent hospital transactions and partnerships

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