NASHVILLE, Tenn.–(BUSINESS WIRE)–HCA Healthcare, Inc. (NYSE:HCA), one of the nation’s leading healthcare providers, has announced the completion of the purchase of a majority stake in Brookdale Health Care Services (“BHS”) from Brookdale Senior Living Inc. (“Brookdale”) (NYSE: BKD). The joint venture expands post-acute care services within the HCA Healthcare continuum with a goal of improving quality and patient experience, as well as promoting access to care.
“We view partnerships as foundational to our efforts to provide quality care to our patients, and we believe this joint venture will lead to improved care coordination,” said Sam Hazen, chief executive officer of HCA Healthcare. “Our objective is to be the healthcare system of choice, and the addition of these services to our network of care improves our ability to meet the care needs of our patients.”
Already one of the nation’s leading providers of healthcare services, HCA Healthcare is comprised of 186 hospitals and approximately 2,000 ambulatory sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics, in 20 states and the United Kingdom. This joint venture adds approximately 80 sites of care and more than 4,000 colleagues to HCA Healthcare.
HCA Healthcare purchased 80 percent equity of Brookdale Health Care Services for $400 million. Brookdale retained a 20 percent equity interest in the venture.
About HCA Healthcare
Nashville-based HCA Healthcare is one of the nation’s leading providers of healthcare services comprising 186 hospitals and approximately 2,000 ambulatory sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics, in 20 states and the United Kingdom. With its founding in 1968, HCA Healthcare created a new model for hospital care in the United States, using combined resources to strengthen hospitals, deliver patient-focused care and improve the practice of medicine. HCA Healthcare has conducted a number of clinical studies, including one that demonstrated that full-term delivery is healthier than early elective delivery of babies and another that identified a clinical protocol that can reduce bloodstream infections in ICU patients by 44 percent. HCA Healthcare is a learning health system that uses its more than 32 million annual patient encounters to advance science, improve patient care and save lives.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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