The University of Alabama at Birmingham Health System Authority has acquired Ascension St. Vincent's Health System, effective Nov. 1.
Under the agreement, UAB Health System assumed ownership of all Ascension St. Vincent's care sites, including the hospitals at Birmingham, Blount, Chilton, East and St. Clair, as well as the Trussville Freestanding Emergency Department, imaging centers and other clinics that are part of Ascension Medical Group.
The transaction was valued at $450 million.
UAB Health, a $6.4 billion system, aims to strengthen hospitals in the state, especially as financial hardship has caused other hospitals nationwide to close.
"I look forward to seeing how the combining of these two great health systems enhances patients' access to a larger network of care, creates exciting opportunities for our people and makes Alabama's healthcare system more sustainable," UAB Health CEO Dawn Bulgarella said in a Nov. 1 news release shared with Becker's.