Cedar Park is a 126-bed Joint Commission accredited hospital facility. Credit: Ascension/GlobeNewswire.

The subsidiaries of Ascension Health have entered into a definitive agreement to acquire an 80% ownership interest in Cedar Park Regional Medical Center from Community Health Systems subsidiaries for $460m in cash.

This move is aimed at strengthening patient-centred care.

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The transaction includes certain ancillary businesses in Cedar Park, Texas, US.

At present, Ascension owns a minority interest in the 126-bed Joint Commission accredited hospital facility.

Ascension president Eduardo Conrado said: “This isn’t just a milestone, it’s a commitment to the future of healthcare in Cedar Park.

“With full ownership, we can accelerate growth, streamline operations, and introduce new services that meet the evolving needs of the community. Above all, this move allows us to further our mission and ensure that no one is left without the care they need.”

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The sale is expected to be finalised between the late second and early third quarter of 2025, pending regulatory approvals and customary closing conditions.

This deal was previously suggested during Community Health Systems’ end-of-year earnings call for 2024 and has been part of the company’s public discussion on potential divestitures.

With full ownership, Ascension aims to expedite growth, optimise operations, and introduce new services to meet the changing needs of the local community.

The acquisition aligns with the company’s mission to enhance access to care, improve healthcare quality, and encourage innovation.

Cedar Park Regional Medical Center CEO Sean Tinney said: “We are confident that this transition will ensure the continued growth and success of Cedar Park Regional Medical Center.

“When the transaction is complete, we look forward to working together as part of Ascension Seton, with a focus on expanding healthcare resources and access to care in Cedar Park and our larger region.”