Capella Healthcare, a for-profit system based in Franklin, Tenn., announced via news release a venture partnering at least four of its hospitals with Nashville's St. Thomas Health, an affiliate of Ascension Health.
Capella Healthcare announces partnership with St. Thomas Health
The agreement calls for joint ownership of four Capella hospitals in Tennessee: 125-bed River Park Hospital in McMinnville, 44-bed White County Community Hospital in Sparta, 52-bed DeKalb Community Hospital in Smithville and 60-bed Stones River Hospital in Woodbury. Those hospitals will now fall under the St. Thomas Health network, which would hold a minority interest in the hospitals.
Officials signed the letter of intent on Monday and expect the deal to take effect before March 1. Capella operates 15 hospitals across seven states. St. Thomas consists of five hospitals and is part of Ascension Health of St. Louis, the country’s largest Catholic health provider. The partnership could grow to include additional Capella facilities, according to the release.
Capella completed a deal in June to acquire a 60% stake in DeKalb and Stones River.
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