Colorado Attorney General John Suthers has said HCA's $1.45 billion purchase of the Colorado Health Foundation's hospital interests in Denver-based HealthONE is not a non-profit "conversion" and, therefore, does not require strict state scrutiny, according to a Denver Post report.
Still, AG Suthers said the sale of the CHF's half-ownership in local HealthONE hospitals is of "critical public interest" and therefore requires hearings and statutory review, according to the report.
Mr. Suthers ruled the proposed deal does not fall under a state nonprofit conversion law because HCA/HealthONE already has control of the hospitals through the partnership, according to the report.
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Still, AG Suthers said the sale of the CHF's half-ownership in local HealthONE hospitals is of "critical public interest" and therefore requires hearings and statutory review, according to the report.
Mr. Suthers ruled the proposed deal does not fall under a state nonprofit conversion law because HCA/HealthONE already has control of the hospitals through the partnership, according to the report.
Related Articles on HCA, HealthONE and the Colorado Health Foundation:
HCA's Acquisition of HealthONE Doesn't Include Guard Against Hospital ClosuresHCA Reaches Definitive Agreement to Buy Out JV Partner, Acquire Denver's HCA-HealthOne
Critics in Colorado Call for Regulatory Oversight in HCA's Acquisition of HealthONE