HCA Healthcare Inc, the biggest hospital operator in the United States, said on Friday it would buy Mission Health, a non-profit health system in North Carolina, for about $1.5 billion.
Under the deal, Nashville, Tennessee-based HCA will own Mission Health’s hospitals in Asheville, Marion, Franklin, Brevard, Spruce Pine, and Highlands.
All proceeds from the deal will go to Dogwood Health Trust of Western North Carolina, Mission Health said in a statement
HCA would pay $430 million over five years to cover capital expenditure for the completion of the Mission Hospital for Advanced Medicine, building a replacement hospital for Angel Medical Center and a new behavioral health hospital.
It will also contribute $25 million along with Mission Health for a $50 million innovation fund.
Mission Health operates six hospitals and several outpatient and surgery centers.
(Reporting by Saumya Sibi Joseph in Bengaluru)