The Transylvania Times -

HCA Completes Purchase Of Mission Health

 

February 4, 2019



HCA Healthcare announced Friday it has completed the purchase of Mission Health, a six-hospital system, including Transylvania Regional Hospital , 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, in a news release. “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.”

HCA Healthcare and Mission Health entered into exclusive discussions March 21, 2018, and signed a definitive agreement Aug. 31.

The N.C. Attorney General’s Office approved the transaction Jan. 16. Friday’s acquisition brings HCA Healthcare’s total number of hospitals to 185.

Friday’s news means that the Dogwood Health Trust is now officially operating (see related story above).

“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, M.D., 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 health care 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.”

The news release included the following commitments from HCA:

•HCA Healthcare will build a 120-bed inpatient behavioral health hospital in Asheville.

•HCA Healthcare will build a new replacement hospital for Angel Medical Center in Franklin.

•HCA Healthcare will complete the new state-of-the-art Mission Hospital for Advanced Medicine in Asheville.

•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.

•HCA Healthcare will create a $25 million Innovation Fund focused on improving health care service delivery and spurring economic development.

•Mission Health will adopt HCA Healthcare’s more expansive charity care policy.

•HCA Healthcare is providing assurances that certain health care 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.”

 
 

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