Adeptus Health, the largest and oldest network of freestanding emergency room facilities in the country, is selling a majority stake in all 12 of its Colorado facilities, and two more under construction. The buyer, University of Colorado Health System, plans to rebrand them as UCHealth ER. Adeptus operates more than 60 ERs in affluent areas of Arizona, Colorado and Texas, which treat patients who have commercial insurance. Free-standing ERs don’t have to accept Medicare or Medicaid, and thus, 85% of Adeptus’ revenue comes from commercial pay plans. Under the partnership, UCHealth will hold a majority stake in Adeptus’ freestanding emergency rooms in Colorado. The centers will integrate UCHealth’s electronic medical record system later this year.