Benzinga | May 13, 2021 09:21AM EDT

HCA Healthcare To Sell North Georgia Hospital To AdventHealth For ~$635M

HCA Healthcare, Inc. (NYSE:HCA), one of the nation's leading healthcare providers, today announced the signing of a definitive agreement to sell Redmond Regional Medical Center, a 230 bed hospital in Rome, Georgia, to AdventHealth for approximately $635 million. The sale completes the company's divestiture of hospitals in the surrounding areas of Atlanta.

HCA Healthcare colleagues at Redmond Regional Medical Center have served the community for 48 years, and the hospital has gained national recognition for quality care. For two years in a row, IBM Watson Health has recognized Redmond Regional as a Top 100 U.S. Hospital.

As a result of the sale of Redmond Regional Medical Center, a hospital that was not able to fully benefit from a broader HCA Healthcare network in the area, the company will no longer have a presence in northwest Georgia. The transaction provides strategic value to HCA Healthcare by increasing financial flexibility for investments in ongoing and future initiatives in core markets.

HCA Healthcare, which has a long history of caring for communities in Georgia, currently operates four other hospitals in the state. Additionally, HCA Healthcare recently expanded its network of care in southeast Georgia with the purchase of Meadows Regional Hospital in Vidalia, Georgia from Meadows Health Alliance.

Citi is serving as financial advisor to HCA Healthcare. The transaction is subject to customary regulatory approvals and expected to close in the third quarter of 2021.