HCA Healthcare to acquire five Utah hospitals from Steward Health Care
HCA Healthcare, a Nashville-based healthcare services provider, has agreed to acquire the operations of Steward Health Care’s five Utah hospitals, for an undisclosed price.
Additionally, HCA Healthcare forged an agreement to lease the associated real estate from its owner after the expected closing of the deal.
The Nashville-based said that the hospitals will become part of its Mountain Division, which comprises 11 hospitals located across Utah, Alaska, and Idaho.
Sam Hazen — CEO of HCA Healthcare said: “Utah is one of the fastest-growing areas in the country, and the state’s need for healthcare continues to increase.
“We believe the addition of these facilities will help us improve healthcare network options for patients and enable investment in services to meet increasing demand for healthcare. We look forward to welcoming them to the HCA Healthcare family.”
Steward Health Care is a physician-led health care network based in Dallas. The company also operates hospitals across Arizona, Arkansas, Texas, Florida, Louisiana, Ohio, Massachusetts, and Pennsylvania.
The sale of the operations of the five Utah hospitals to HCA Healthcare is expected to boost the ability of Steward Health Care to continue expanding and reinvesting in other states and locations served by it.
Ralph de la Torre — Steward Health Care chairman and CEO said: “We are confident that the combination with HCA Healthcare will enable the achievement of cost savings and further improved quality of care for patients in Utah.
“For Steward, this transaction frees up additional capital to more deliberately invest in its accountable care model (largest in the US and #2 in shared savings for MSSP 2020) by reinvesting in risk-based opportunities and health care expansion.”