Nashville, Tenn.-based HCA Healthcare finalized a deal to acquire 80 percent of Brookdale Senior Living's hospice, home health and outpatient therapy division.
HCA acquired the majority stake for $400 million July 1. The unit involved in the deal is Brookdale Health Care Services, which operates 57 home health agencies, 22 hospice agencies and 84 outpatient therapy locations.
Brookdale Senior Living will retain a 20 percent stake in the hospice, home health and outpatient therapy division.
The two organizations announced the deal in February.
HCA delivers care at more than 2,000 sites, and the deal will extend its reach beyond hospitals, surgery centers and freestanding emergency rooms.
"We view partnerships as foundational to our efforts to provide quality care to our patients, and we believe this joint venture will lead to improved care coordination," HCA Healthcare CEO Sam Hazen said. "Our objective is to be the healthcare system of choice, and the addition of these services to our network of care improves our ability to meet the care needs of our patients."