Columbia/HCA Healthcare Corporation Announces Hospital Exchange Deal with Community Health Systems

Strategic Insights -

Columbia/HCA Healthcare Corporation, the nation's largest provider of healthcare services, has signed a definitive agreement to exchange hospitals with Community Health Systems, Inc. The deal involves the acquisition of four hospitals by Columbia and the divestiture of one hospital, North Okaloosa Medical Center, to Community Health Systems. This agreement is a result of the Federal Trade Commission's approval of Columbia's merger with HealthTrust, Inc. in April. The exchange is expected to complement Columbia's strategy of building a network of integrated healthcare facilities in the Pinellas County area.

Key Takeaways:

  • Columbia/HCA Healthcare Corporation will acquire three hospitals in Pinellas County, Florida, including Pinellas Community Hospital, University General Hospital, Women's Hospital and Medical Center, and Hillside Hospital in Pulaski, Tennessee.
  • Community Health Systems will acquire North Okaloosa Medical Center in Crestview, Florida.
  • The divestiture of North Okaloosa Medical Center was required by the Federal Trade Commission as part of its approval of Columbia's merger with HealthTrust, Inc.
  • Columbia is building comprehensive networks of healthcare services, including home health, rehabilitation, and skilled nursing units, in local markets across the country.
  • Columbia has 324 hospitals and more than 100 outpatient surgery centers in 36 states, England, and Switzerland.
  • Columbia's Rapides Regional Medical Center in Alexandria, Louisiana, recently received the state's first Louisiana Quality Award.

Statistics:

  • Columbia will acquire 154-bed Pinellas Community Hospital, 140-bed University General Hospital, and 99-bed Women's Hospital and Medical Center in Seminole.
  • Hillside Hospital in Pulaski, Tennessee, has 95 beds.
  • North Okaloosa Medical Center has 110 beds.
  • Columbia operates 324 hospitals in 36 states, England, and Switzerland.
  • The company maintains more than 100 outpatient surgery centers.

Sources:

  • A press release by Columbia/HCA Healthcare Corporation on October 24, 1995.
  • Columbia/HCA Corporation's home page at http://www.columbia-hca.com.
  • PRNewswire press release.