Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

HCA inks $750M deal to sell Oklahoma hospitals

Nashville, Tenn.-based HCA has entered into an agreement to transfer ownership of its Oklahoma hospitals to an affiliate of University Hospitals Authority and Trust in Oklahoma City.

The deal includes Oklahoma University Medical Center in Oklahoma City and OU Medical Center Edmond (Okla.).

HCA also agreed to terminate its lease of The Children's Hospital at OU Medical Center as well as an associated joint operating agreement with University Hospitals Authority and Trust.

"For almost 20 years, we have collaborated with our partners at UHAT to provide leading quality care and to enhance the range of services available to the greater Oklahoma City community," said Sam Hazen, COO of HCA. "We believe this relationship has been a successful example of how a public entity and a private entity can partner to improve overall performance. We wish them the best in their future endeavors."

HCA will receive $750 million under the agreement. The transaction, which requires customary regulatory approvals, is expected to close in the first half of 2017.

Soon after HCA's announcement Wednesday, St. Louis-based SSM Health disclosed that St. Anthony Hospital — SSM's 601-bed facility in Oklahoma City — is partnering with the University of Oklahoma and University Hospitals Authority and Trust to create an integrated care network.

OU Medicine, UHAT and SSM Health include a combined 23 Oklahoma hospitals, including OU Medical Center, The Children's Hospital and OU Medical Center Edmond.

SSM Health, which will mange the day-to-day operations of the network, said the transaction should be finalized within the first half of 2017.

More articles on healthcare industry transactions:

Shuttered NC hospital accepts Duke LifePoint's proposal
Dignity Health, CHI ink agreement to explore further alignment
CHS to sell controlling interest in home health business for $128M

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months