Issues stemming from a long government review have forced St. Louis-based Ascension Health and HCA Midwest Health System in Kansas City, Mo., to call off the sale of two hospitals.
Last May, HCA Midwest, a subsidiary of Nashville, Tenn.-based Hospital Corporation of America, agreed to purchase Carondelet Health from Ascension. Carondelet Health includes 310-bed St. Joseph Medical Center, 146-bed St. Mary's Medical Center and several other Carondelet facilities. Terms of the deal were not disclosed.
Since then, Ascension and HCA have been undergoing due diligence and regulatory oversight, which included antitrust review from the Federal Trade Commission. Both health systems said they decided to cancel the transaction because it became "clear that a timely, supportive decision from the FTC will not be forthcoming."
HCA Midwest would've been the largest health system in the Kansas City metropolitan area with 12 hospitals, seven ambulatory surgery centers and more than 10,000 employees. The next largest system is Saint Luke's Health System.
Ascension, the largest nonprofit health system in the U.S., did not disclose if or when it would pursue another avenue to sell Carondelet Health.
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