Ascension plans sale of two hospitals to Capella
Ascension intends to sell two of its Pacific Northwest hospitals to forprofit Capella Healthcare.
Ascension, the St. Louis-based parent company of Ascension Health, one of the nation’s largest health systems, plans to sell Lourdes Health Network, a single-hospital system in Pasco, Wash., and St. Joseph Regional Medical Center in Lewiston, Idaho. The deal would expand Franklin, Tenn.-based Capella’s current portfolio to 11 hospitals in six states and give the system its first facility in Idaho.
Ascension Health CEO Robert Henkel said in a statement that Capella’s current presence in Oregon and Washington state made it a good buyer.
Terms of the deal are confidential, and both Capella and Ascension declined to comment beyond a news release, pending a definitive agreement. Both systems expressed support to continue the hospitals’ faith-based initiatives.