HCA Healthcare acquired Memorial Health Inc.
Ponder & Co. (“Ponder”) is pleased to announce that HCA Healthcare (“HCA”), has acquired Memorial Health Inc. (“Memorial”), located in Savannah, GA, and its associated physician clinics and outpatient services. The hospital assets of Memorial had previously been owned by the Chatham County Hospital Authority (“CCHA”). The transaction included $430 million for the purchase of substantially all assets of Memorial and a commitment to spend $280 million in capital expenditures over the first ten years resulting in a total commitment value of approximately $710 million. The net proceeds from the transaction will fund an indigent care trust fund administered by CCHA. In addition to financial commitments, HCA has committed to maintaining important services in the community for a minimum of ten years. This transaction combines the operational expertise and resources of HCA to ensure the continued access to high quality care in the communities served by Memorial.
About Memorial Health Inc.
The flagship of Memorial, Memorial University Medical Center, is a 604-bed teaching hospital that serves a nine-county region in Georgia and South Carolina. Memorial has 4,700 team members that care for over 25,000 inpatient admissions and 500,000 outpatient visits annually. Memorial has the region’s only Level I trauma center and children’s hospital, and is a market leader for inpatient and emergency services. Memorial has a long-standing relationship with Mercer University School of Medicine which brings medical education to the region and will continue as part of the transaction.Download Full Article