NASHVILLE, Tenn.--(BUSINESS WIRE)--HCA Healthcare (NYSE: HCA), a leading healthcare provider with 185
hospitals and approximately 1,800 sites of care in 21 states and the
United Kingdom, today announced it has completed the purchase of Mission
Health, a six-hospital system in Asheville and western North Carolina,
for approximately $1.5 billion.
“The team at Mission Health has been nationally recognized for providing
high-quality patient care, and we’re excited that they’ve joined HCA
Healthcare,” said Sam Hazen, CEO of HCA Healthcare. “We’re looking
forward to investing in western North Carolina and helping ensure
Mission Health’s 133-year tradition of caring for communities throughout
the region continues for many years.”
Mission Health, recognized as one of the nation’s top 15 health systems
by IBM Watson Health in six of the past seven years, is now a new
operating division of HCA Healthcare.
“We are very pleased that this transaction has now closed so that
Mission Health can continue to focus on caring for the people of western
North Carolina,” said Ronald A. Paulus, MD, Mission Health’s President
and CEO. “This is a tremendous win for the people and communities that
we serve, and one that may be judged by history as a positive inflection
point for the communities we serve. We’ve not only provided for the
long-term sustainability of high-quality healthcare and secured special
protections for our rural communities, we’ve also created the largest
per capita foundation in the nation to address the social determinants
of health. I believe the Dogwood Health Trust has the potential to
impact health status in a way never before imagined in America. I look
forward to seeing results, both for western North Carolina, and as a
model of what might be for many similar communities.”
Benefits and highlights of the transaction include the following
commitments:
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HCA Healthcare will build a 120-bed inpatient behavioral health
hospital in Asheville.
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HCA Healthcare will build a new replacement hospital for Angel Medical
Center in Franklin, N.C.
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HCA Healthcare will complete the new state-of-the-art Mission Hospital
for Advanced Medicine in Asheville.
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In addition to the new behavioral health hospital, replacement
hospital and new tower, HCA Healthcare will invest $232 million in
capital in Mission Health facilities.
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HCA Healthcare will create a $25 million Innovation Fund focused on
improving healthcare service delivery and spurring economic
development.
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Mission Health will adopt HCA Healthcare’s more expansive charity care
policy.
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HCA Healthcare is providing assurances that certain healthcare
services will be maintained.
“From early on, we were confident that HCA Healthcare shares Mission
Health’s focus on high-quality, patient-centered care and is the right
and best choice to help ensure our continued success,” said Mission
Health Board Chair John R. Ball, MD, JD. “We are excited to see how the
resources, scale and expertise of HCA Healthcare can help enhance
Mission Health’s rich legacy.”
“The Mission Health team of physicians, clinicians and support services
are deeply committed to providing access to high-quality, compassionate
care, which is part of what makes this alignment a good cultural fit,”
said John W. Garrett, MD, Vice Chair of the Mission Health Board. “We
look forward to seeing how Mission’s nationally recognized quality and
safety practices benefit from HCA’s national scale.”
HCA Healthcare and Mission Health entered into exclusive discussions
March 21, 2018 and signed a definitive agreement August 31, 2018. The
North Carolina Attorney General’s Office approved the transaction
January 16, 2019. Today’s acquisition brings HCA Healthcare’s total
number of hospitals to 185.
About Mission Health
Mission Health, an operating division of HCA Healthcare, is based in
Asheville, North Carolina and is the state’s sixth largest health
system. In 2018, for the sixth time in the past seven years, Mission
Health has been named one of the nation’s Top 15 Health Systems by IBM
Watson Health (formerly Truven Health Analytics). Mission Health is the
only health system in North Carolina to achieve this recognition.
Mission Health operates six hospitals, numerous outpatient and surgery
centers, post-acute care provider CarePartners, long-term acute care
provider Asheville Specialty Hospital, and the region’s only dedicated
Level II trauma center. With approximately 12,000 colleagues and 2,000
volunteers, Mission Health is dedicated to improving the health and
wellness of the people of western North Carolina. For more information,
please visit missionhealth.org or @MissionHealthNC.
About HCA Healthcare
Nashville-based HCA Healthcare is one of the nation's leading providers
of healthcare services, comprising 185 hospitals and approximately 1,800
sites of care, including surgery centers, freestanding ERs, urgent care
centers, and physician clinics, in 21 states and the United Kingdom.
With its founding in 1968, HCA Healthcare created a new model for
hospital care in the United States, using combined resources to
strengthen hospitals, deliver patient-focused care and improve the
practice of medicine. HCA Healthcare has conducted a number of clinical
studies, including one that demonstrated that full-term delivery is
healthier than early elective delivery of babies and another that
identified a clinical protocol that can reduce bloodstream infections in
ICU patients by 44 percent. HCA Healthcare is a learning healthcare
system that uses its more than 32 million annual patient encounters to
advance science, improve patient care and save lives. Please click
here to connect with HCA Healthcare on social media.
All references to “Company,” “HCA” and “HCA Healthcare” as used
throughout this document refer to HCA Healthcare, Inc. and its
affiliates.
Investor Contact:
Mark Kimbrough
615-344-2688
Media Contact:
Ed Fishbough
615-344-2810