On Wednesday, news broke that Nashville-based HCA Healthcare has agreed to buy a majority stake in Brookdale Health Care Services (BHS), the unit of the Brentwood-based senior living company that serves home health, hospice and outpatient therapy needs, for a reported $400 million. Brookdale will retain a 20% stake in the unit.
Lucinda "Cindy" Baier, Brookdale's President and CEO, said, "The health and wellbeing of our residents is at the core of Brookdale's mission. Today's partnership with HCA Healthcare, a leading healthcare organization, will continue the high quality services delivered to our residents and patients, strengthen our liquidity position and provide meaningful opportunities for growth through better integration of services across the entire care continuum."
"HCA Healthcare's objective is to be the healthcare system of choice in the communities we serve," said CEO Sam Hazen in a statement. "This opportunity to partner with Brookdale will expand the services we offer and enhance our ability to deliver a better experience for our patients, as well as for Brookdale residents."
BHS operates 57 home health agencies and 22 hospice agencies across 26 states, along with 84 outpatient therapy locations with 98 percent of its agencies earning 4 star or better Quality Star Rating from Centers for Medicare and Medicaid Services in December 2020. Services are provided for those residing in Brookdale communities, as well as in their own homes. The deal is anticipated to close mid-year.