Ascension intends to sell two Pacific Northwest hospitals to for-profit Capella Healthcare for undisclosed terms.
Ascension, the St. Louis-based parent company of Ascension Health, one of the nation's largest health systems, plans to sell Lourdes Health Network, a single-hospital system in Pasco, Wash., and St. Joseph Regional Medical Center in Lewiston, Idaho. The deal would expand Franklin, Tenn.-based Capella's current portfolio of 11 hospitals in six states and give the system its first facility in Idaho.
Ascension Health CEO Robert Henkel said in a statement that Capella's current presence in Washington and Oregon made it a good buyer.
The terms of the deal are confidential, and both Capella and Ascension declined to comment beyond a news release, pending a definitive agreement. Both have expressed support to continue the organizations' faith-based initiatives, according to the release.
Capella and Ascension are already involved in a joint venture owning St. Thomas Health, a four-hospital system in Middle Tennessee, in which Capella is the managing member and majority partner.
