HCA Healthcare executives have signed a deal to sell five of the company's 10 Georgia hospitals to a large nonprofit network for $950 million.
Nashville-based HCA and Piedmont Healthcare expect their transaction to close during the third quarter. Their agreement covers a 310-bed hospital east of Atlanta and a 119-bed facility north of that city as well as two hospitals and a small behavioral health facility home to a combined 453 beds in Macon. Combined, those hospitals are home to about a third of HCA’s Georgia bed count.
In a statement, HCA officials said the properties they are selling are not located in markets they consider core and that they will benefit by being under Piedmont’s umbrella. Atlanta-based Piedmont runs a network of 11 hospitals and more than 550 other treatment locations that employ more than 22,000 people.
Word of the Piedmont deal comes shortly after HCA CEO Sam Hazen and his team completed their deal for the community-owned Meadows Regional Hospital in southeast Georgia. The company had first signed a letter of intent for that property in the fall of 2019.
HCA runs more than 180 hospitals and about 2,000 ambulatory sites of care around the country and in the United Kingdom. The company’s shares (Ticker: HCA) were up 2 percent to about $205 in Monday-afternoon trading. They have risen about 25 percent year to date.