Iasis Healthcare, Franklin, Tenn., said it is acquiring Brim Holdings and the two hospitals it owns, but not the company's healthcare technology solutions and hospital-management businesses, for $95 million in cash. Iasis said it expects to close the deal by year-end.
Iasis is acquiring 150-bed Wadley Regional Medical Center, Texarkana, Texas, and 15-bed Pikes Peak Regional Hospital, Woodland Park, Colo. Wadley Regional is a joint venture with a local multispecialty physician group, and Brim holds a long-term lease to operate Pikes Peak Regional, according to Brim.
The last hospital acquisition by Iasis was a 10-bed surgical hospital in 2008, but the company signaled its heightened interest in acquisitions when it hired a new business development officer in June.
Brim's current majority owner, Altaris Capital Partners, will retain the hospital-management and healthcare technology solutions businesses. Brim, which is based in Brentwood, Tenn., and operates as Brim Healthcare, manages more than 30 hospitals.