As part of the transaction, the Brentwood, Tennessee-based Brookdale will partner with HCA Healthcare (NYSE: HCA), a for-profit operator of health care facilities that has more than 2,000 sites of care nationwide.
“The health and wellbeing of our residents is at the core of Brookdale’s mission,” Lucinda Baier, Brookdale’s president and CEO, said in a statement issued with the company’s Q4 earnings results. “Today’s partnership with HCA Healthcare will continue the high quality services delivered to our residents and patients, strengthen our liquidity position and provide meaningful opportunities for growth through better integration of services across the entire care continuum.”
Brookdale has agreed to sell 80% of the equity in Brookdale Health Services to the Nasheville, Tennessee-based HCA Healthcare for a purchase price of $400 million. That total implies a $500 million value for the segment, according to Brookdale.
One of the nation’s largest operators of senior living communities, Brookdale will retain a 20% equity interest in the venture with HCA Healthcare.
This is a developing story. Please check back shortly for additional information.
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