The Nashville-based for-profit provider announced the acquisition Thursday afternoon.
In an effort to further cement its expansive nursing rolls, HCA Healthcare announced Thursday that it has taken a majority stake in the Galen College of Nursing.
The for-profit health system, which currently employs 94,000 nurses, bought one of the largest private nursing schools in the nation to increase access to education and "provide career development opportunities."
The move adds to HCA's growing portfolio, which includes two other nursing schools and comes months after the Nashville-based company acquired Mission Health for $1.5 billion.
“Nurses are the lifeblood of our organization, and we’ve been intentional about investing in nursing so they can be successful and provide the best possible patient care,” Sam Hazen, CEO of HCA, said in a statement. “Galen has an excellent reputation in nursing education, and we look forward to working with them to advance their mission and expand their programs to more of our markets.”
While operating under majority control by HCA, Galen will continue to be led by CEO Mark Vogt, who praised the deal by saying that both organizations share a similar vision for the future.
"We are extremely excited about building on the synergies between nursing practice and nursing education, and the possibilities this unlocks for years to come," Vogt said in a statement. "It is an incredible milestone for Galen and we have confidence that this union will not only strengthen our ability to carry out our mission, but to expand our vision.”
The college, based in Louisville but operating in multiple locations around the country, was founded as the Galen Health Institute in 1989 by Humana Inc. and became an independent entity in 1994.
The organization was renamed the Galen College of Nursing in 2005 after establishing an associate degree in nursing program.
Terms of the agreement were not immediately made available and completion of the deal is subject to regulatory review.
Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.