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For-profit hospital chain closes $78M deal for Washington health system

Brentwood, Tenn.-based RCCH Healthcare Partners has acquired Kennewick, Wash.-based Trios Health through a joint venture with Seattle-based University of Washington Medicine, according to the Tri-City Herald.

The healthcare district that owned Trios Health filed for Chapter 9 bankruptcy in June 2017. About a year later, the district's unsecured creditors approved a plan to sell Trios' assets to RCCH, which is owned by funds managed by Apollo Global Management.

Trios emerged from bankruptcy in late June, and the $78 million deal officially closed Aug. 4, according to the Tri-City Herald.

"We are excited to bring this innovative partnership with UW Medicine as well as new, additional resources to this growing community," Marty Rash, RCCH chairman and CEO, said in a statement to the Tri-City Herald.

RCCH is a for-profit hospital operator formed in 2016 through the merger of Franklin, Tenn.-based Capella Healthcare and Brentwood-based RegionalCare Hospital Partners, which was sold to Apollo Global Management in 2015.

More articles on healthcare industry transactions:

University of Kansas Health System acquires competing hospital
How Cleveland Clinic has been boxed out of Palm Beach
UHS significantly expands UK presence: 3 things to know

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