HCA completes purchase of Colorado joint venture
Hospital chain HCA Holdings Inc. said Friday it purchased a 40-percent stake in a joint venture from its former partner, The Colorado Health Foundation, for $1.45 billion.
HCA completed the deal after getting approval from regulators. HCA and the foundation created the HCA-HealthOne joint venture in 1995. It runs seven hospitals and 13 ambulatory surgery centers in metro Denver. HCA agreed to buy The Colorado Health Foundation's stake in June.
As part of the deal HCA agreed not to close any of the hospitals in the next five years. It also agreed to extend several community programs.
Shares of HCA rose 92 cents, or 4.4 percent, to close at $22.05.