As HCA plans to acquire the Colorado Health Foundation’s shares of its Denver-based joint venture, HCA/HealthONE, some critics are saying the deal abandons the community’s interest and public benefit, according to a Denver Post report.
As part of its $1.45 billion sale, HCA will take full control of HealthONE. It will continue to provide hundreds of millions of dollars in charity care and community benefits for 10 years. After 10 years, though, community oversight will dissolve, according to the report.
Some critics are saying 10 years is too short and the for-profit company, in the meantime, would still have the ability to close hospitals or make other changes. Dick Anderson, former joint venture board chairman, wants the Colorado attorney general to take control of the deal and order more public protections. The attorney general has not yet scheduled public hearings on the proposed hospital sale.
Related Articles on HCA, HealthONE and Colorado Health Foundation:
HCA Reaches Definitive Agreement to Buy Out JV Partner, Acquire Denver’s HCA-HealthOne
HCA’s Acquisition of HealthONE Doesn’t Include Guard Against Hospital Closures
HCA’s Planned Acquisition of HealthONE Needs Greater Oversight, Some Argue
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