Health Midwest Wraps Up Watershed $1 Billion Sale to HCA

Shields, Yvette
April 2003
Bond Buyer;4/3/2003, Vol. 344 Issue 31607, p3
Trade Publication
Missouri-based nonprofit Health Midwest this week officially closed on its $1 billion sale to Tennessee-based for-profit HCA Inc.— a deal that marked the largest ever sale of its kind in the country and one that market participants said may serve as a model for future transactions. The complex deal, which involved the purchase or defeasance of $316 million of Health Midwest's outstanding revenue bonds, took a year to engineer and overcame regulatory hurdles put up by the attorneys general of Kansas and Missouri who sought to protect their states in the transfer of assets. Separate foundations are being established in Missouri and Kansas, where the system held a 34 percent market share in the Kansas City metropolitan area, to fund health care services and research.


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