LCMC Health plans to acquire three Tulane hospitals from the national chain HCA Healthcare, significantly increasing its footprint in the New Orleans area from six to nine hospitals in a $150 million deal, The Advocate reports.
Tulane Medical Center in New Orleans, Tulane Lakeside Hospital in Metairie and Lakeview Regional Medical Center in Covington are included in the acquisition, which is expected to wrap up at the end of this year.
Tulane’s move to a locally-owned nonprofit from a for-profit national parent company was about “mission alignment,” said LCMC Health CEO Greg Feirn.
Under the new agreement, the majority of services at Tulane’s downtown hospital will move to East Jefferson General Hospital in Metairie and University Medical Center in the CBD over the next two years. All employees will be retained and patients who go to the downtown location will eventually move to the system’s other locations.
In addition to the $150 million payment to HCA, LCMC has agreed to invest $220 million in the facilities at East Jefferson, Tulane Lakeside and Lakeview Regional. The downtown medical center, including a renovated Charity Hospital, will be repurposed to house a new nursing program, clinical research programs and more space for students in medical fields. Tulane University has committed $600 million to revamp downtown New Orleans. Read more.
