CASPER, Wyo. (AP) - Healthcare giant Banner Health is set to acquire the Wyoming Medical Center in a deal worth more than $200 million, hospital and county officials announced Tuesday.
The deal requires the blessing of the center’s board and approval by the Natrona County commissioners.
If approved, Banner would buy the medical center’s land, equipment and buildings from the county for $157 million, the Casper Star-Tribune reported. The deal would also eliminate $50 million of the center’s debt.
Of the $157 million the county will receive under the proposal, it will keep roughly $120 million. The rest will go to the hospital’s foundation.
The rest of the center’s assets that aren’t county-owned will be shuffled into the hospital’s foundation. In all, the foundation would receive somewhere in the neighborhood of $220 million. Federal tax returns from 2017 indicated the foundation had just $1.9 million in net revenue.
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