HCA will sell its Oklahoma hospitals for $750 million
HCA will sell its Oklahoma hospitals and terminate its lease of a children's hospital as other systems announced plans for an integrated network.
Photo by Sarah Connor
A shifting healthcare landscape in Oklahoma will see one major affiliation come to an end, as another network springs up.
HCA announced Wednesday it will transfer ownership of its Oklahoma hospitals to an affiliate of the University Hospitals Authority and Trust, including Oklahoma University Medical Center and OUMC Edmond. They have also reached an agreement with 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.
HCA will receive $750 million in the deal, subject to regulatory approvals, which is expected to close in the first half of 2017, the system said in a statement.
[Also: Integris to build 4 microhospitals around Oklahoma City]
"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."
Meanwhile, SSM Health's St. Anthony Hospitals and Physicians Group will partner with the University of Oklahoma and UHAT to create an integrated care network, the systems announced Wednesday.
"This is an exciting time for health care in Oklahoma," said William P. Thompson, president and CEO, SSM Health. "As a part of SSM Health, the St. Anthony Hospitals and St. Anthony Physicians Group have a long history of providing high-quality, compassionate and personalized care. By coming together with OU Medicine, we will build upon our collective heritage of serving this community, while also striving to ensure that Oklahomans receive exceptional care for years to come."
[Also: James Brasel named CFO at Oklahoma-based Jane Phillips Medical Center]
OU Medicine, UHAT and SSM Health include more than 23 Oklahoma hospitals and affiliates, including OU Medical Center, The Children's Hospital, OU Medical Center Edmond, as well as St. Anthony Hospital in Oklahoma City and other facilities.
SSM Health will manage the day-to-day operations of the network, but will share governance and financial responsibility with UHAT. The deal is expected to close in the first half of 2017.
SSM said in a statement that a capital plan is already in the works, and includes a new patient tower at OU Medical Center.
Twitter: @BethJSanborn
