NASHVILLE, Tenn.--(BUSINESS WIRE)--Aug 31, 2018--HCA Healthcare (NYSE:HCA) today announced a definitive agreement with Mission Health, a nonprofit North Carolina health system. Under the agreement, HCA will acquire substantially all the assets of Mission Health, for approximately $1.5 billion. The proceeds will be contributed to the nonprofit Dogwood Health Trust, whose purpose is to use those funds to improve the health and well-being of the people and communities of western North Carolina.

Under the agreement, HCA will acquire 763-bed Mission Hospital in Asheville; 80-bed CarePartners Rehabilitation Hospital in Asheville; 49-bed Mission Hospital McDowell in Marion; 25-bed Angel Medical Center in Franklin; 25-bed Transylvania Regional Hospital in Brevard; 25-bed Blue Ridge Regional Hospital in Spruce Pine; and 24-bed Highlands-Cashiers Hospital in Highlands.

“Mission Health is the premier healthcare system in western North Carolina, with a 130-year tradition of high quality patient care,” said Milton Johnson, HCA Healthcare’s chairman and chief executive officer. “We look forward to continuing Mission Health’s focus on excellence, and investing in western North Carolina to improve the health of the region.”

This transaction is subject to the terms and conditions of the Asset Purchase Agreement between the parties, as well as review by the North Carolina Attorney General’s Office.

About HCA Healthcare

Nashville-based HCA Healthcare is one of the nation's leading providers of healthcare services, operating 178 locally managed hospitals and approximately 1,800 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 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 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 is a learning healthcare system that uses its more than 28 million annual patient encounters to advance science, improve patient care and save lives. Please click here to connect with HCA on social media.

All references to “Company” and “HCA” as used throughout this document refer to HCA Healthcare, Inc. and its affiliates.

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CONTACT: HCA Healthcare

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Mark Kimbrough, 615-344-2688

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Ed Fishbough, 615-344-2810

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA TENNESSEE

INDUSTRY KEYWORD: HEALTH HOSPITALS

SOURCE: HCA Healthcare

Copyright Business Wire 2018.

PUB: 08/31/2018 09:00 AM/DISC: 08/31/2018 09:01 AM

http://www.businesswire.com/news/home/20180831005173/en