Franklin, Tenn.-based Williamson Health plans to sell to St. Louis-based Ascension through its Tennessee market, Ascension Saint Thomas, after its board of trustees unanimously voted July 6 to pursue a change of ownership, according to a July 6 news release shared with Becker’s. The proposed transaction remains subject to approval by the Williamson County Commission and regulators.
The board voted to pursue a $700 million sale to Ascension Saint Thomas. According to the release, the proposed transaction has a total economic value of nearly $1 billion, including the purchase price, planned capital investments, EHR upgrades, service line expansions and commitments to charity care and community programs.
Williamson Health and Ascension Saint Thomas will negotiate a nonbinding letter of intent for consideration by the county commission before negotiating a definitive agreement, according to the release. If approved, the transaction would then undergo regulatory review. Williamson Health said the process is expected to extend into 2027 or 2028.
The board said it distributed a request for proposals to 28 local, regional and national healthcare organizations. Eleven organizations advanced to the first phase, with Ascension Saint Thomas, Nashville, Tenn.-based HCA Healthcare and Optum ultimately submitting final proposals. Optum’s proposal called for a 10-year partnership rather than an outright sale and was evaluated as a potential path for Williamson Health to remain independent, according to the release.
In a statement shared with Becker’s, Fahad Tahir, president and CEO of Ascension Saint Thomas, said the health system is honored to have been selected as Williamson Health’s future partner. “While this selection is a significant milestone, we respect the role of the Williamson County Commission in the approval process,” Mr. Tahir said. “We remain deeply committed to transparency and collaboration with the community, elected officials, physicians and employees as we work to shape the future of healthcare in the region.”
Williamson Health said it explored multiple options to remain independent before determining that joining Ascension Saint Thomas was the best path forward. The health system cited regulatory changes, workforce shortages, supply chain pressures and the need for significant capital investment to support future growth.
Ascension has agreed to retain Williamson Health employees for at least one year following the transaction, if approved, according to The Tennessean.
Williamson Health employs more than 2,400 people across more than 30 locations. Its flagship facility, Williamson Medical Center, is supported by more than 900 physicians and advanced practice providers across more than 60 specialties and subspecialties, according to the release.
The proposed transaction comes as Ascension continues to expand after several years of portfolio restructuring. The health system recently acquired ambulatory surgery center operator AmSurg and has said it is focused on growing its ambulatory care footprint.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.