HCA (NYSE:HCA) announced today an agreement with the University
Hospitals Authority and Trust (UHAT) for the early termination of HCA’s
lease of The Children’s Hospital at Oklahoma University Medical Center
as well as an associated joint operating agreement. In addition, HCA
will transfer ownership of its hospital operations in Oklahoma, which
include Oklahoma University Medical Center and OUMC Edmond, to an
affiliate of UHAT.
“For almost 20 years, we have collaborated with our partners at UHAT to
provide leading quality care and to enhance the range of services
available to the greater Oklahoma City community,” said Sam Hazen, HCA’s
chief operating officer. “We believe this relationship has been a
successful example of how a public entity and a private entity can
partner to improve overall performance. We wish them the best in their
future endeavors.”
“It is clear that the OU Health Science campus has grown and improved
its standing during our 18-year relationship with HCA,” said Mike Samis,
chairman of UHAT. “I appreciate their efforts and hope that HCA is
successful in their future undertakings. As we look forward, I’m pleased
that we have a strong platform for the future of healthcare in Oklahoma.
Under the agreement, HCA will receive $750 million in consideration. The
transaction is subject to certain conditions and regulatory approvals
and is expected to be completed in the first half of 2017.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include statements that do not
relate solely to historical or current facts. Forward-looking statements
can be identified by the use of words like “may,” “believe,” “will,”
“expect,” “project,” “estimate,” “anticipate,” “plan,” “initiative” or
“continue.” These forward-looking statements are based on our current
plans and expectations and are subject to a number of known and unknown
uncertainties and risks, many of which are beyond our control, which
could significantly affect current plans and expectations and our future
financial position and results of operations. These factors include, but
are not limited to, our ability to obtain any required regulatory or
other approvals necessary to consummate the transaction as well as the
risk factors described in our annual report on Form 10-K for the year
ended December 31, 2015 and our other filings with the Securities and
Exchange Commission. Many of the factors that will determine our future
results are beyond our ability to control or predict. In light of the
significant uncertainties inherent in the forward-looking statements
contained herein, readers should not place undue reliance on
forward-looking statements, which reflect management’s views only as of
the date hereof. We undertake no obligation to revise or update any
forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise.
All references to “Company” and “HCA” as used throughout this release
refer to HCA Holdings, Inc. and its affiliates.
HCA
Investor Contact:
Mark Kimbrough, 615-344-2688
or
Media Contact:
Ed Fishbough, 615-344-2810