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.
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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 GlobalData“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.
