HCA completed its $1 billion purchase of not-for-profit Health Midwest, Kansas City, Mo., today, the company said. Nashville-based HCA agreed in November 2002 to pay $1.1 billion for Health Midwest, which owns nine hospitals in Missouri and Kansas and manages four others. The final value of the deal fell to just more than $1 billion because HCA did not acquire $87 million in assets that Health Midwest will retain. The system will operate these five nonhospital facilities under the name Community Health Group. Two healthcare charitable foundations are scheduled to be established, one each in Kansas and Missouri, with the net proceeds of the sale, expected to be about $700 million. That process could take up to 90 days, said Chris Whitley, an HCA spokesman in Kansas City. -- by Vince Galloro
HCA completes purchase of Health Midwest
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