Financial terms of the deal were not disclosed. Providence Southern California, a five-hospital division of Renton, Wash.-based Providence Health & Services, will assume ownership and the day-to-day operations of the 234-bed Saint John’s. Executives from Catholic-based SCL Health System said they decided to sell Saint John’s to Providence so the hospital could remain sustainable amidst healthcare reform while retaining its Catholic mission, according to a news release.
California Attorney General Kamala Harris still must approve the deal. The transaction is also subject to approval by the Archbishop of Los Angeles and the Vatican.
SCL Health System and Providence initially agreed to the acquisition in May. In April, other health systems were in the running to buy Saint John’s, including a potential partnership between UCLA Health System and St. Louis-based Ascension Health.
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