Santa Clara (Calif.) County has reached a definitive agreement to buy San Jose, Calif.-based Regional Medical Center, part of Nashville, Tenn.-based HCA Healthcare, for $150 million.
The asset purchase agreement signed by both parties will integrate the 258-bed hospital into the Santa Clara Valley Healthcare system, according to a Jan. 13 news release.
The transaction is expected to close April 1, after which the county will take over operations. It comes after the county's board of supervisors unanimously voted on Aug. 27 to purchase the hospital for $175 million after a tentative agreement was reached.
Regional Medical Center was set to close its trauma center and ST-elevation myocardial infarction program services in August 2024; however, HCA canceled the plans and downgraded certain cardiac, stroke and trauma services. The hospital also ended labor and delivery services in 2020.
The county plans to restore level 2 trauma care immediately and will add comprehensive stroke and STEMI services after, with labor and delivery to be restored "at a later date," the release said.