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Queen's finalizes deal to acquire and reopen HMC-West

By Kristen Consillio

POSTED:
LAST UPDATED: 11:37 a.m. HST, Aug 27, 2012


The parent company of Queen's Medical Center has finalized a deal with St. Francis Healthcare System of Hawaii to acquire and reopen by fall 2013 the shuttered Hawaii Medical Center-West campus in West Oahu.

Queen's has agreed to purchase and renovate the Ewa hospital for $73.2 million, according to regulatory filings with the State Health Planning and Development Agency, which regulates health-care projects and acquisitions.

Queen's will pay $21.2 million for the land and building and earmarked $25 million for hospital renovations that will include an expansion and modernization of emergency, surgical and imaging services. It will invest another $27 million for equipment.

Queen's indicated it would pay $25.2 million in cash and finance the remaining $48 million. Queen's plans to hire approximately 400 employees to resume emergency room and hospital operations.

The closing date of the sale is slated for October.

 






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