Asheville, N.C.-based Mission Health will distribute a combined $90 million to hospital foundations in six rural communities if its proposed sale to Nashville, Tenn.-based HCA Healthcare closes.
If the deal with HCA goes through, Mission will donate $15 million to each of its five existing hospital foundations, plus one that will be created for Angel Medical Center in Asheville.
Mission would distribute the funds, which would come from sale proceeds, over a three-year period. The first $5 million would be distributed upon the HCA deal closing.
The funds are intended to be used to help improve the health and well-being of local communities. Mission said the disbursement of funds in years two and three will be contingent upon each foundation's previous year's progress and commitment to improving local social determinants of health.
"Throughout the due diligence process, Mission Health's board has discussed various ways to provide additional support for the communities served by our Member Entities," Mission Health Board Chair John R. Ball, MD, said in a press release. "In addition to significant protections against program or facility closures for our rural communities, we are pleased to provide each Member Entity with proceeds from the sale of Mission Health to benefit their communities directly and locally."
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