HCA Healthcare has signed an agreement to sell the 230-bed Redmond Regional Medical Center in the US to AdventHealth, in a deal valued at nearly $635m.
Under the definitive agreement, AdventHealth will acquire the associated businesses, physician clinic operations, outpatient services and all issued and outstanding equity interests of the hospital in Rome, Georgia.
With the sale, HCA Healthcare will conclude its divestiture of hospitals in the surrounding areas of Atlanta.
The hospital could not completely benefit from a broader HCA Healthcare network in the area. As a result of its sale, the company will no longer have a presence in northwest Georgia.
The transaction increases financial flexibility for HCA Healthcare to make investments in ongoing and future initiatives in core markets.
AdventHealth president/CEO Terry Shaw said: “We are excited about the opportunity to offer our unique promise of whole-person care and look forward to working with and caring for the team members, physicians, and residents of northwest Georgia and the surrounding area.
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“By affiliating with Redmond Regional Medical Center, we will be well positioned to continue providing excellent care in the community.”
AdventHealth and HCA Healthcare will work together to ensure a seamless transition for team members, physicians as well as consumers.
Redmond Regional Medical Center, which serves as a regional referral center for all of northwest Georgia and parts of Alabama, is the only hospital in northwest Georgia with an open-heart surgery programme along with Level I Emergency Cardiac Care Center designation.
The transaction is subject to customary regulatory approvals and is slated for completion in the third quarter of this year.