The Colorado Health Foundation is selling its interest in HCA-HealthONE hospitals, the largest health care provider in the state, for $1.45 billion.
The sale by the nonprofit foundation will balloon its assets into the largest foundation in Colorado. The Colorado Health Foundation has concentrated its grants on expansion of access to health insurance and healthier diets and exercise for state residents.
The foundation will sell its 40 percent interest to its operating partners since 1995, the for-profit national chain Hospital Corporation of America (HCA). The two powers have overseen Colorado institutions including Swedish, Rose, Sky Ridge, P/SL, North Suburban and Medical Center of Aurora hospitals, as well as Spalding rehabilitation, Rocky Mountain Hospital for Children and other major assets.
The Colorado Health Foundation says it has spent $250 million on grants since 2006. Selling the stake in the Colorado joint venture will allow the foundation to diversify and stabilize its endowment, officials said.
