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Mission Health launches nonprofit foundation ahead of proposed HCA deal

Asheville, N.C.-based Mission Health launched its nonprofit private foundation, which will be funded by proceeds from the health system's sale to Nashville, Tenn.-based HCA Healthcare, Mission Health announced July 16.

Here are four things to know:

1. The foundation, Dogwood Health Trust, will serve as a "region-wide resource" to develop healthcare-based partnerships between organizations within the community.

2. While few details are available regarding the proposed HCA deal — announced in March — Mission Health CEO Ron Paulus, MD, said in May that the foundation could generate between $50 million and $100 million in income based on a 5 percent return on its assets, indicating the potential purchase price for the six-hospital system to range from $1 billion to $2 billion, the Citizen Times reports.

3. Officials said a broader public announcement about the foundation is scheduled for Sept. 30.

4. Mission Health is seeking applications from potential foundation board members. A formal application process will be available to prospective applicants on or before Aug. 1.

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3 recent healthcare partnerships and transactions
438-bed New York hospital nixes merger plans after 2-year search
Kaufman Hall: 76% of hospital deals in 2018 so far involve nonprofit systems

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