NASHVILLE, Tenn.--(BUSINESS WIRE)--HCA (NYSE:HCA) announced today an agreement with the University Hospitals Authority and Trust (UHAT) for the early termination of HCA’s lease of The Children’s Hospital at Oklahoma University Medical Center as well as an associated joint operating agreement. In addition, HCA will transfer ownership of its hospital operations in Oklahoma, which include Oklahoma University Medical Center and OUMC Edmond, to an affiliate of UHAT.
“For almost 20 years, we have collaborated with our partners at UHAT to provide leading quality care and to enhance the range of services available to the greater Oklahoma City community,” said Sam Hazen, HCA’s chief operating officer. “We believe this relationship has been a successful example of how a public entity and a private entity can partner to improve overall performance. We wish them the best in their future endeavors.”
“It is clear that the OU Health Science campus has grown and improved its standing during our 18-year relationship with HCA,” said Mike Samis, chairman of UHAT. “I appreciate their efforts and hope that HCA is successful in their future undertakings. As we look forward, I’m pleased that we have a strong platform for the future of healthcare in Oklahoma.
Under the agreement, HCA will receive $750 million in consideration. The transaction is subject to certain conditions and regulatory approvals and is expected to be completed in the first half of 2017.
This press release contains forward-looking statements within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include statements that do not relate solely to historical or current facts. Forward-looking statements can be identified by the use of words like “may,” “believe,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “initiative” or “continue.” These forward-looking statements are based on our current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond our control, which could significantly affect current plans and expectations and our future financial position and results of operations. These factors include, but are not limited to, our ability to obtain any required regulatory or other approvals necessary to consummate the transaction as well as the risk factors described in our annual report on Form 10-K for the year ended December 31, 2015 and our other filings with the Securities and Exchange Commission. Many of the factors that will determine our future results are beyond our ability to control or predict. In light of the significant uncertainties inherent in the forward-looking statements contained herein, readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
All references to “Company” and “HCA” as used throughout this release refer to HCA Holdings, Inc. and its affiliates.