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STAR-ADVERTISER / DECEMBER 2011
The State Health Planning and Development Agency approved Queen's Medical Center's application to purchast the Hawaii Medical Center-West
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.
