CASPER, Wyo. (AP) - A Wyoming county commission voted to sell its medical center to Banner Health, which will add the facility to its growing heath care system.
The Natrona County Commission approved the $200 million deal for Wyoming Medical Center in Casper Thursday, The Casper Star-Tribune reports.
The five-member commission unanimously approved the agreement with the national organization after the hospital’s separate nonprofit board gave its approval.
Banner will absorb $50 million in debt remaining from the medical center’s construction and the purchase of Mountain View Regional Hospital two years ago.
Banner also committed to investing $100 million in the medical center over the next decade.
The county will receive $120 million, with about $40 million directed to the medical center’s foundation. The remainder of the hospital’s assets of about $200 million will also be shifted to the foundation.
The foundation is expected to become one of the state’s largest philanthropic organizations, continuing to support the medical center while expanding to issue grants in the area.
The county plans to continue working with the foundation to disburse funding.
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