WILLIAMSON COUNTY, Tenn. (WTVF) — The Williamson Health board of trustees has unanimously recommended selling the community-owned hospital system to Ascension St. Thomas for a total deal valued at nearly $950 million, a decision that still requires approval from Williamson County commissioners.
Board Chair Bo Butler said the board reviewed more than 20 potential buyers before narrowing the field to 2 finalists: HCA and Ascension St. Thomas. After weighing finances, value, and culture, the board selected Ascension's bid.
Under the terms of the deal, Ascension would purchase Williamson Health for $700 million, with additional capital and other investments bringing the total to $950 million.
The sale comes as Williamson Health was projecting a net loss as early as 2028.
Board members acknowledged the weight of the decision after working for nearly 2 years to identify a buyer.
"When we actually uttered the words and made the motion and voted everyone was a little taken back, but still very much behind our decision to change the ownership of the hospital and sell to Ascension," Butler said.
Butler said the confidential nature of the process, permitted under Tennessee state law, was key to securing the nearly billion-dollar figure.
"I don't know if a courthouse auction scenario would've brought the best value for a hospital and this has turned out to be a very lucrative deal," Butler said.
Butler also addressed community concerns about who would benefit from the sale.
"There's a lot of chatter of the sale enriching people that will not happen," Butler said.
Williamson County Commissioner Matt Williams also reflected on the emotional toll of the process.
"For the last year it felt a little bit like a funeral to be honest because no one wanted to go down this route, but at the same time there's an incredible opportunity," Williams said.
CEO Phil Mazzuca said the sale is about growth, not just a change in ownership. He said the hospital currently operates 337 beds, but artist renderings show a path to becoming a roughly 700-bed facility.
"For me I love to invest in another 20 primary care providers in the market. As a standalone entity, we don't have the resources to do that that fast. Talking to Ascension they've committed to expanding not only primary care, but specialty care in the market," Mazzuca said.
Ascension's bid includes taking on all of Williamson Health's physician groups, including Vanderbilt Bone and Joint and Williamson Health Medical Group. Ascension has also committed to retaining all employees for one year after closing. Mazzuca said conversations with employees are already underway.
Ascension Saint Thomas President and CEO Fahad Tahir said the health system is committed to working openly with the community throughout the approval process.
"Ascension Saint Thomas is honored to have been selected by the Williamson Health Board of Trustees as the future partner for their health system. We commend the Board for their thoughtful approach throughout this strategic planning process and for their unwavering commitment to securing the long-term sustainability of high-quality healthcare in the community," Tahir said.
"While this selection is a significant milestone, we respect the role of the Williamson County Commission in the approval process. We remain deeply committed to transparency and collaboration with the community, elected officials, physicians, and employees as we work to shape the future of healthcare in the region, building upon the remarkable legacy Williamson Health has established over the last seven decades," Tahir said.
Vanderbilt Health, whose physician group is included in Ascension's bid, said it looks forward to continuing its partnership regardless of the outcome.
"Vanderbilt Health has been proud to partner with Williamson Health for more than a decade in delivering exceptional pediatric and specialty care services. We are not in a position to comment on the Williamson Health RFP process but look forward to continuing to provide Williamson County residents with access to world-class expertise and care regardless of the outcome from that process," Vanderbilt Health said.
County commissioners will ultimately decide whether to approve the sale, and public meetings are expected as part of that process.
This story was reported on-air by Amanda Roberts and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Do you have more information about this story? You can email me at Amanda.Roberts@NewsChannel5.com
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