Texas-based physician-led integrated healthcare system Steward Health Care has completed the divestment of its Utah healthcare sites to CommonSpirit Health.
The deal was made via Catholic Health Initiatives Colorado, a part of CommonSpirit Health.
The Steward Utah healthcare sites being acquired include five hospitals, more than 35 medical group clinics, imaging and urgent care centres, and other outpatient ventures, all of which will be managed by regional health system Centura Health.
This strategic deal allows Steward to invest in its value-based care model in other regions where it operates.
Following the sale, the divested Utah healthcare sites will become a part of CommonSpirit Health’s national health system.
CommonSpirit Health’s national health system includes Davis Hospital and Medical Center, Salt Lake Regional Medical Center and Jordan Valley Medical Center, as well as their associated clinics and outpatient centres.
Steward Health Care regional president Brian Dunn said: “We are pleased to have found the right partner for our Utah hospitals.
“We are extremely proud of what we have accomplished in Utah since acquiring the system in 2017, and we want to extend our deep thanks to our colleagues whose commitment and excellence have made a difference to patients and the local community every day since.”
Steward Health Care chairman Ralph de la Torre said: “This transaction continues Steward’s stated strategic plan to focus on and invest in value-based care. We look forward to increasing our presence and financial commitment in our holistic integrated care model, for which we continue to lead the industry.”