The transaction, which is still subject to regulatory review and the negotiation of a definitive agreement, will also result in HCA’s full ownership of seven hospitals. HCA will pay $1.45 billion for the ownership stake, according to an HCA news release.
The HCA-HealthONE health system is a Colorado company created in 1995 as a joint venture between non-profit The Colorado Health Foundation and HCA.
“We are very pleased with the opportunity to acquire full ownership of these outstanding facilities,” said HCA Chairman and CEO Richard M. Bracken, in the release. “This transaction would not only expand our economic involvement in the metropolitan Denver market, but would also provide additional resources for the Foundation to further its mission and outreach activities.”
The transaction is expected to close in the third quarter of 2011.
Read the news release about the acquisition by HCA of HCA-HealthONE (pdf).
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