Suthers decides on hearings for $2B hospital transaction
DENVER (Legal Newsline) - Colorado Attorney General John Suthers said Thursday that his office has decided to hold two public hearings on a nearly $2 billion pending hospital transaction.
The hearings will focus on HCA Holdings Inc.'s proposed acquisition of the Colorado Health Foundation's interest in the HCA-HealthONE hospital system.
Suthers said his office determined that the proposed $1.45 billion transaction does not fall under the Colorado Hospital Transfer Act but does warrant review under the attorney general's common law authority over charitable organizations.
The Attorney General's Office sent a letter Thursday to counsel for the Colorado Health Foundation, explaining its determination.
"This proposed transaction has the potential to reshape the health care market in the Denver Metropolitan Area," Suthers said.
"Even though we have concluded that the proposed acquisition does not fall under the letter of the Hospital Transfer Act, it will have a substantial effect on health care that will be felt throughout the state.
"Accordingly, I believe it is essential that my office exercise its common law authority to review this transaction and to ensure that the public's voice is heard regarding this matter."
The hearings, which will be open to the public, are scheduled for Sept. 26 and 27.
From Legal Newsline: Reach Jessica Karmasek by email at email@example.com.