HCA Healthcare, Inc. (NYSE:HCA) agreed to acquire Five Utah Hospitals from Steward Health Care System LLC on September 21, 2021. HCA Healthcare also entered into an agreement to lease the related real estate from its owner following the expected closing. The hospitals will become part of HCA Healthcare's Mountain Division, which includes 11 hospitals in Utah, Idaho and Alaska. The transaction is subject to customary regulatory approvals and other closing conditions. The deal is expected to close in the first half of 2022. . Federal Trade Commission not agreeing with merger between HCA Healthcare and Steward Health Care System (Utah) on the grounds that it would lead to higher prices and reduced quality.
Jennifer L. Chu, Kevin Rinker, Simone S. Hicks, Kristin D. Kiehn, Stuart Hammer and Angel Shah of Debevoise & Plimpton LLP acted as legal advisors to HCA Healthcare, Inc. and SVB Leerink LLC acted as financial advisor to Steward Health Care System LLC. Samuel W. Wales, Ankur Gupta, Benjamin G. Kirschner, Angela Fontana, Tara M. Lancaster, Mark B. Langdon, Karen Kazmerzak, Eric M. Winwood, Margaret H. Allen, Heather M. Palmer and Alan Charles Raul of Sidley Austin LLP acted as legal advisor to Steward Health Care System LLC.