Debevoise & Plimpton LLP is advising HCA Healthcare in its acquisition of a majority stake in Brookdale Health Care Services (“BHS”), the home health, hospice and outpatient therapy business of Brookdale Senior Living Inc. (NYSE: BKD) (“Brookdale”). Brookdale has agreed to sell 80% of the equity in BHS to HCA Healthcare for a purchase price of $400 million, which implies a $500 million value for BHS. Brookdale will retain a 20% equity interest in the venture with HCA Healthcare. For more information, please see Brookdale’s press release.
HCA Healthcare is one of the nation’s leading providers of healthcare services comprising more than 2,000 sites of care in 20 states and the United Kingdom. As a learning health system, HCA Healthcare uses its more than 35 million annual patient encounters to advance science, improve patient care and save lives. Brookdale will join HCA Healthcare’s network of care through this venture.
The Debevoise team is led by M&A partners Jennifer Chu and Kevin Rinker, and includes counsel Molly Stockley and David Iozzi and associates David Becker, Marisa Demko, Margaret Howard, Kim Le, Dominique Trudelle and Kirstie Yu, benefits partner Jon Lewis and associates Simone Hicks and Zain Kazmi, intellectual property counsel Judith Church and insurance counsel Michael Devins.