UCHealth, which leases and operates Memorial Hospital Central and North in Colorado Springs, has agreed to acquire Pikes Peak Regional Hospital in Woodland Park in a deal expected to be completed in early April.
The 15-bed hospital, which employs about 120 people, has been owned by Boston-based Steward Health Care System LLC, which merged with the hospital's previous owner in September. Dan Weaver, a UCHealth spokesman in Aurora, said the purchase agreement between UCHealth and Steward was signed late Thursday after several months of talks. He said details on the hospital's organizational structure will be worked out before the deal is completed. The hospital opened in 2006.
"Pikes Peak Regional Hospital provides essential services, close to home, for patients in Teller and Park Counties. We are excited to join UCHealth because, as part of this larger health care network, we will be able to provide our patients with a greater depth of services while focusing on our purpose - improving health throughout the Pikes Peak region," Kim Monjesky, the hospital's CEO, said Friday in a news release.
UCHealth Medical Group has worked with Pikes Peak Regional "for several years" to provide specialists and services at the Woodland Park facility, such as cardiology, neurosurgery, oncology and telestroke services, Weaver said.
"By working together, Memorial and Pikes Peak Regional Hospital will be able to enhance the services currently available in Woodland Park, while improving the experience of patients who need advanced care or specialists in other UCHealth locations," UCHealth Memorial CEO Joel Yuhas said in the release.
Steward was started in 2010 and is owned by private equity giant Cerberus Capital Management, which also owns the Albertsons and Safeway supermarket chains. Steward, the nation's largest privately held hospital company, operates 36 hospitals with more than 5,000 beds and 37,000 employees in 10 states. The company more than doubled in size last year by merger with Franklin, Tenn.-based IASIS Healthcare LLC, which owned Pikes Peak Regional and 17 other hospitals, and buying eight other hospitals from Community Health Systems Inc., also based in Franklin, Tenn.
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