Ascension acquires full ownership in four Tennessee hospitals

August 15, 2015

Ascension has acquired sole ownership of four Middle Tennessee hospitals previously co-owned by Saint Thomas Health and Capella Healthcare. St. Louis' Ascension is the parent company of Nashville, Tenn.-based Saint Thomas.

According to a press release, the Aug. 3 acquisition of Capella's ownership interest is part of Ascension's efforts to create clinically integrated care systems. The four Tennessee hospitals now are Catholic facilities and Ascension has renamed them.

The hospitals are:

  • The 125-bed River Park Hospital in McMinnville, now called Saint Thomas River Park Hospital
  • The 71-bed DeKalb Community Hospital in Smithville, now called Saint Thomas DeKalb Hospital
  • The 60-bed Highlands Medical Center in Sparta, now called Saint Thomas Highlands Hospital
  • The 60-bed Stones River Hospital in Woodbury, now called Saint Thomas Stones River Hospital

Saint Thomas had five Middle Tennessee hospitals outside of the joint venture with Capella. Now all nine hospitals are part of Saint Thomas.

Saint Thomas and the Franklin, Tenn.-based for-profit Capella entered into their joint venture on the four hospitals in May 2012. Capella was the majority partner in the venture. Saint Thomas had an equity interest. Under the arrangement, the four facilities had been operating as part of the Saint Thomas Health Network, with Capella the managing member. According to information from Ascension, the organizations had mutually agreed as part of their joint venture that neither would seek out other hospital development or expansion partners in Middle Tennessee and Southern Kentucky. If exploring the purchase or sale of a Tennessee facility, the organizations would work with each other.

Saint Thomas continues as the tertiary care partner for the four hospitals.

A press release said that the three-year joint venture between Saint Thomas and Capella had resulted in expanded services as well as improved cardiac, stroke and telemedicine services.

 

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