The Idaho attorney general has blessed the sale of Ascension's St. Joseph Regional Medical Center to RCCH HealthCare Partners, a for-profit hospital chain formed through the merger of RegionalCare and Capella Healthcare.
The sale marks the second announced so far this year by Ascension. In January, the Catholic health system said it would sell Ministry St. Joseph's Hospital in Marshfield, Wis., to the Marshfield Clinic.
Ascension CEO Anthony Tersigni recently told Modern Healthcare that the sprawling healthcare system uses a process called “ministry configuration” to assess its portfolio and determine if it should sell off any assets.
The sale of St. Joseph Regional was subject to approval by Idaho Attorney General Lawrence Wasden because the facility will be converted from not-for-profit to for-profit.
Under terms of the deal, St. Louis-based Ascension will donate $23 million to a foundation formed by the attorney general that will benefit the Lewiston, Idaho, community where St. Joseph Regional is based. Additionally, RCCH HealthCare will invest $57 million for up-to-date equipment, technology and ambulatory-care facilities over the next five years for St. Joseph Regional. The company will also retain all employees, which include 120 physicians and providers.