HCA Announces Agreement to Terminate Hospital Lease and Associated Joint Operating Agreement in Oklahoma
27 October 2016 - 7:32AM
Business Wire
HCA (NYSE:HCA) announced today an agreement with the University
Hospitals Authority and Trust (UHAT) for the early termination of
HCA’s lease of The Children’s Hospital at Oklahoma University
Medical Center as well as an associated joint operating agreement.
In addition, HCA will transfer ownership of its hospital operations
in Oklahoma, which include Oklahoma University Medical Center and
OUMC Edmond, to an affiliate of UHAT.
“For almost 20 years, we have collaborated with our partners at
UHAT to provide leading quality care and to enhance the range of
services available to the greater Oklahoma City community,” said
Sam Hazen, HCA’s chief operating officer. “We believe this
relationship has been a successful example of how a public entity
and a private entity can partner to improve overall performance. We
wish them the best in their future endeavors.”
“It is clear that the OU Health Science campus has grown and
improved its standing during our 18-year relationship with HCA,”
said Mike Samis, chairman of UHAT. “I appreciate their efforts and
hope that HCA is successful in their future undertakings. As we
look forward, I’m pleased that we have a strong platform for the
future of healthcare in Oklahoma.
Under the agreement, HCA will receive $750 million in
consideration. The transaction is subject to certain conditions and
regulatory approvals and is expected to be completed in the first
half of 2017.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include statements that
do not relate solely to historical or current facts.
Forward-looking statements can be identified by the use of words
like “may,” “believe,” “will,” “expect,” “project,” “estimate,”
“anticipate,” “plan,” “initiative” or “continue.” These
forward-looking statements are based on our current plans and
expectations and are subject to a number of known and unknown
uncertainties and risks, many of which are beyond our control,
which could significantly affect current plans and expectations and
our future financial position and results of operations. These
factors include, but are not limited to, our ability to obtain any
required regulatory or other approvals necessary to consummate the
transaction as well as the risk factors described in our annual
report on Form 10-K for the year ended December 31, 2015 and our
other filings with the Securities and Exchange Commission. Many of
the factors that will determine our future results are beyond our
ability to control or predict. In light of the significant
uncertainties inherent in the forward-looking statements contained
herein, readers should not place undue reliance on forward-looking
statements, which reflect management’s views only as of the date
hereof. We undertake no obligation to revise or update any
forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events
or otherwise.
All references to “Company” and “HCA” as
used throughout this release refer to HCA Holdings, Inc. and its
affiliates.
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version on businesswire.com: http://www.businesswire.com/news/home/20161026006867/en/
HCAInvestor Contact:Mark Kimbrough,
615-344-2688orMedia Contact:Ed Fishbough, 615-344-2810
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