North Carolina's attorney general OKs HCA acquisition of Mission Health

Close-up of handshake between person in suit and person in business shirt.
By law, the attorney general has the right to review deals under which any nonprofit corporation in North Carolina sells the bulk of or all of its assets. (Getty Images/FS-Stock)

HCA's planned acquisition of Asheville, North Carolina-based Mission Health System cleared a major hurdle this week after North Carolina Attorney General Josh Stein announced that he has no objections to the deal.

Stein pointed to HCA's commitments to provide healthcare services and to make its board more representative of the communities it will serve. Both parties also agreed to enforcement measures that will allow the AG's office to take legal action should HCA, which is based in Nashville, fail to comply with its commitments.

“After extensive negotiations, I am satisfied that this new agreement protects healthcare in western North Carolina [and] ensures that the full value of Mission’s assets will continue to be used for public purposes," Stein said in a statement. 

By law, the AG has the right to review deals under which any nonprofit corporation in North Carolina sells the bulk of or all of its assets.

Free Daily Newsletter

Like this story? Subscribe to FierceHealthcare!

The healthcare sector remains in flux as policy, regulation, technology and trends shape the market. FierceHealthcare subscribers rely on our suite of newsletters as their must-read source for the latest news, analysis and data impacting their world. Sign up today to get healthcare news and updates delivered to your inbox and read on the go.

In March, Mission Health announced the planned acquisition by HCA. Mission employs nearly 11,000 people, making it the region’s largest employer. The nonprofit health system also boasts a total economic output of $1.75 billion annually for an 18-county region.

RELATED: Mission Health plans to contribute $90M to foundations if it sells to HCA Healthcare

HCA Healthcare, a for-profit, is an even larger player and reported a profit of $2.2 billion in 2017. The deal will add Mission’s seven hospitals to HCA’s 177 hospitals and 119 surgical centers in the U.S. and United Kingdom.

Suggested Articles

Civica Rx, the non-profit drug company formed by a collection of hospitals to help control generic drug supplies and prices, is putting down roots.

Two senators introduced this week bipartisan legislation to establish a third-party oversight committee to help monitor the implementation of the new EHR…

ONC is moving another step closer to implementing a framework designed to improve data sharing between health information networks.