Mission Health announced Thursday it plans to join HCA Healthcare, a move the Asheville, N.C.-based system wrote in a statement reflects its long-term vision and commitment to quality in a rapidly consolidating healthcare industry.
Mission’s board of directors voted unanimously to sign a letter of intent to enter into exclusive discussions with HCA to join the Nashville-based system. Mission, which runs six hospitals, wrote in its statement that the deal would keep it well positioned to continue to meet the needs of western North Carolina by leveraging HCA’s “extensive resources.”
“HCA Healthcare is a leading healthcare operator that offers advantages on a scale that would be difficult, if not impossible, to achieve otherwise,” Mission’s Board Chair Dr. John Ball said in a statement.
None of HCA’s 177 hospitals are currently in North Carolina, although it does have hospitals in 20 other states, including neighboring South Carolina.
The partnership would include the creation of a new foundation that Mission wrote would invest tens of millions of dollars annually into communities.
As part of HCA, Mission wrote that it expects to generate millions of dollars in tax revenues for the area.
In a statement, Mission wrote that the deal would likely result in some positions being eliminated or changed, although the system does not expect significant changes. Mission wrote it also expects new jobs to be created if HCA enters the state, particularly for clinical staff.
Before the deal can be finalized, both sides must sign a definitive agreement and receive the necessary regulatory approval.
HCA took in just under $11.6 billion in revenue in the final quarter of 2017, an 8.6% jump from the same time in 2016, when it took in $10.6 billion. Operating expenses increased 9% year-over-year during that period, according to the Modern Healthcare database.
Article source: http://www.modernhealthcare.com/article/20180322/NEWS/180329954