Ascension to buy 4 Tennessee hospitals out from joint venture
The deal with Capella Healthcare will bring four hospitals located in central Tennessee into Saint Thomas Health.
Photo of River Park Hospital in McMinnville, TN from Facebook.
Ascension said it will buy four Tennessee hospitals previously jointly owned by Capella Healthcare and parent company Saint Thomas Health for an undisclosed amount.
The deal with Capella Healthcare will bring four hospitals located in central Tennessee into Saint Thomas Health, according to Ascension President and CEO Robert J. Henkel.
Saint Thomas recently partnered with the University of Tennessee's primary care residency program, he said.
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The hospitals include River Park Hospital in McMinnville; Highlands Medical Center in Sparta; DeKalb Community Hospital in Smithville; and Stones River Hospital in Woodbury.
The four hospitals have been part of a joint venture relationship between Capella and Saint Thomas since 2012, expanding cardiac, stroke and telemedicine services, according to Ascension.
No closing date has been announced.
Capella has been divesting hospitals in Tennessee and Missouri as the business environment in the Southeast has become more challenging. However, it plans to add facilities in the Northwest, where it plans to acquire Lourdes Health Network in Pasco, Washington, and St. Joseph Regional Medical Center in Lewiston, Idaho, from Ascension.
Twitter: @SusanMorseHFN
