NASHVILLE, Tennessee – (COMMERCIAL THREAD) – HCA Healthcare, Inc. (NYSE: HCA) and Steward Health Care today announced the signing of a definitive agreement allowing HCA Healthcare to acquire the operations of five Steward Health Care hospitals in Utah. HCA Healthcare has also entered into an agreement to lease the related real estate to its owner after the scheduled closing.
The hospitals will be part of the Mountain division of HCA Healthcare, which includes 11 hospitals in Utah, Idaho and Alaska.
âUtah is one of the fastest growing regions in the country and the state’s health care needs continue to increase,â said Sam Hazen, CEO of HCA Healthcare. âWe believe that the addition of these facilities will help us improve health care network options for patients and allow investment in services to meet the growing demand for health care. We look forward to welcoming them to the HCA Healthcare family.
Steward Health Care also operates hospitals in Arizona, Texas, Arkansas, Louisiana, Florida, Ohio, Pennsylvania, and Massachusetts. The sale of these facilities to HCA Healthcare will strengthen Steward Health Care’s ability to continue to grow and reinvest in other states and locations served by the healthcare system.
Steward Health Care President and CEO Ralph de la Torre said, âWe are very proud of Steward’s significant contributions to the quality and efficiency of operations at these facilities. We are confident that the combination with HCA Healthcare will result in cost savings and further improve the quality of care for patients in Utah. For Steward, this transaction frees up additional capital to invest more deliberately in its responsible care model (the largest in the United States and # 2 in shared savings for the MSSP 2020) by reinvesting in risk-based opportunities and l expansion of health care. ”
Debevoise & Plimpton LLP acted as transaction advisor to HCA Healthcare. SVB Leerink acted as exclusive financial advisor to Steward Health Care. The transaction is subject to customary regulatory approvals and other closing conditions. Terms of the deal were not disclosed.
About HCA Health
HCA Healthcare, based in Nashville, is one of the nation’s leading healthcare service providers, comprising 187 hospitals and approximately 2,000 ambulatory care sites, including surgical centers, stand-alone emergency rooms, emergency care and medical clinics, in 20 states and the UK. With its founding in 1968, HCA Healthcare created a new model of hospital care in the United States, using combined resources to strengthen hospitals, provide patient-centered care, and improve the practice of medicine. HCA Healthcare has conducted a number of clinical studies, including one which has shown that full term delivery is healthier than early elective delivery of babies and another which has identified a clinical protocol that can reduce childbirth by 44%. blood infections in intensive care patients. HCA Healthcare is a learning healthcare system that uses its more than 32 million patient encounters annually to advance science, improve patient care, and save lives. Please click here to connect with HCA Healthcare on social media.
About Steward Health Care
Steward Health Care’s physician-led business model was designed to unlock access to the highest quality care at a sustainable cost, committing to providing personalized and ongoing medical services that positively impact the patient’s health. the physical, emotional and mental well-being of patients.
Founded in 2010, Steward Health Care is the world’s largest physician-led healthcare network with more than 5,500 providers and 43,000 healthcare professionals caring for 12.3 million patients per year through its global network of ‘hospitals, emergency care centers, skilled nursing and behavioral health facilities. services.
Based in Dallas, Steward currently operates 44 hospitals worldwide, including 39 in Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas and Utah, as well as five internationally in Malta and Colombia.
All references to “Company”, “HCA” and “HCA Healthcare” used in this document refer to HCA Healthcare, Inc. and its affiliates.