Under the agreement, which requires regulatory approval, NorthCrest will be part of HCA’s TriStar Health, which includes 10 hospitals in Tennessee. The deal was announced about four months after the organizations signed a letter of intent.
“The last few months have given our leadership team and the board of trustees the opportunity to determine if a partnership with TriStar Health will benefit our region for generations to come,” NorthCrest Health President and CEO Randy Davis said in a news release. “As our exploration process progressed, it became clearer that TriStar Health shares our commitment to the Robertson County community.”
NorthCrest, which includes a 109-bed hospital, said proceeds from the transaction will be between $14 million and $16 million, and they will be used to create a nonprofit foundation. The foundation will be overseen by an independent board with representation from local leaders.
More articles on healthcare industry transactions:
Trinity buys majority stake in Premier Health
Troubled Pennsylvania health system looks for a buyer
Temple Health to buy cancer hospital
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