The Nashville Post, June 16, 2011
Nashville hospital giant HCA plans to buy out its partner in Colorado health system joint venture HCA-HealthOne for $1.45 billion. HCA said Wednesday it has a memorandum of understanding with nonprofit The Colorado Health Foundation to buy the foundation's approximately 40% ownership stake in the joint venture, which currently includes seven hospitals and 13 ambulatory surgery centers in the metro Denver area. HCA plans to fund the purchase at closing through money available under its revolving credit facility. The deal, which is subject to regulatory approval and the negotiation of a definitive agreement, is expected to close in the third quarter. "We are very pleased with the opportunity to acquire full ownership of these outstanding facilities," said HCA Chairman/CEO Richard M. Bracken. "This transaction would not only expand our economic involvement in the metropolitan Denver market, but would also provide additional resources for the Foundation to further its mission and outreach activities."