HCA Exits, SSM Health Enters OU Medical System
One for-profit company relinquishes ownership, and one not-for-profit takes over. That’s what happened on October 16, when HCA (NYSE: HCA) announced it was selling its ownership in the hospital operations of Oklahoma University Medical Center (688 beds) in Oklahoma City, and OU Medical Center Edmond. The University Hospitals Authority and Trust (UHAT), a private entity that was formed by the state, HCA and the University of Oklahoma, will pay HCA $750 million when the transaction closes in the first half of 2017. The company also agreed to terminate its lease of The Children’s Hospital at Oklahoma University Medical Center, as well as an associated joint operating agreement.... Read More »Six Forest Park Medical Centers All Sold
The lawsuits may go on, but the facilities that once belonged to the physician-owned chain of six hospitals In Texas are now in new hands. Each filed for Chapter 11 bankruptcy protection at different times, beginning in September 2015, and were sold in separate auctions. On February 18, Sabra Health Care REIT (NASDAQ: SBRA) unloaded Forest Park Medical Center at Frisco for $96.25 million to HCA North Texas, a subsidiary of HCA (NYSE: HCA). The REIT had paid $119.8 million to acquire the 54-bed hospital in October 2013. The hospital initially relied on out-of-network fees for procedures, but that revenue stream dried up as insurance companies created their own in-network contracts. The... Read More »Schedule a demo
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