HCA Healthcare, Inc. [NYSE: HCA] has confirmed the acquisition of Five Utah Hospitals. The firm has inked a definitive agreement with Steward Health Care to acquire these five hospitals. The hospitals will become part of HCA Healthcare’s Mountain Division, which includes 11 hospitals in Utah, Idaho, and Alaska.
Furthermore, HCA Healthcare has also inked an agreement to lease the related real estate from its owner after the expected closing. HCA disclosed that this acquisition is beneficial as Utah is the fastest-growing state and the healthcare needs in the state are continuously increasing. This acquisition will help the firm to offer more healthcare choices for patients.
Steward Health Care also runs hospitals in Arizona, Texas, Arkansas, Louisiana, Florida, Ohio, Pennsylvania, and Massachusetts. The sale of these hospitals to HCA Healthcare will improve Steward Health Care’s ability to continue increasing and reinvesting in other states and locations served by the health system.
In addition, Steward Healthcare believed that the combination with HCA Healthcare will allow the accomplishment of cost savings and further enhanced quality of care for patients in Utah. The firms have not disclosed the terms of the agreement. The execution of the agreement is dependent on regulatory authorizations.