Nashville company to purchase Hillcrest Healthcare

Hillcrest Healthcare System has been sold. Ardent Health Services will pay almost $300-million for Tulsa based Hillcrest. <br/><br/>News on 6 reporter Rick Wells says the announced sale price is $281.2-million,

Tuesday, May 11th 2004, 12:28 pm

By: News On 6


Hillcrest Healthcare System has been sold. Ardent Health Services will pay almost $300-million for Tulsa based Hillcrest.

News on 6 reporter Rick Wells says the announced sale price is $281.2-million, for that, Ardent Health Services of Nashville gets the two major Tulsa hospitals Hillcrest and Tulsa Regional and the system's 37 other facilities located in Tulsa and around northeastern Oklahoma.

Ardent has pledged to keep all employees and maintain all services. Most healthcare experts we've talked to agree this is a good news story for Hillcrest. For the past year of so they've been searching for some help to provide better financial stability. This deal will do that.

Ardent Health Services started in 1993 as a behavioral health care provider and since then, it has grown. It currently has 27 hospitals in 13 states. As a part of the purchase agreement Ardent will invest approximately $100-million over the next five years to upgrade and improve facilities.

An Ardent spokesperson says when the sale is final sometime this summer Hillcrest will be their largest hospital and with the improvements could become the crown jewel of the entire Ardent System.
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