Brookdale Completes Sale of Home Health, Hospice Business to HCA

NASHVILLE, Tennessee (July 2, 2021)—Brookdale Senior Living Inc. (NYSE: BKD), an operator of senior living communities, announced it has completed the sale of a majority stake in Brookdale Health Care Services (“BHS”) to HCA Healthcare.

“This transaction strengthens Brookdale’s financial position, continues providing our residents with access to high quality services, and provides meaningful growth opportunities for BHS,” said Lucinda “Cindy” Baier, Brookdale’s president and CEO. “On behalf of Brookdale, I’d like to express our gratitude to Sam Hazen and his team for their incredible support throughout this transaction. I would also like to thank the BHS associates for their dedicated service to Brookdale and look forward to continuing to work together through this new venture.” 

Key Transaction Highlights

• Brookdale sold 80% of the equity in BHS to HCA Healthcare for a purchase price of $400 million, which implied a $500 million value for the BHS business 
• Brookdale retained a 20% equity interest in the venture with HCA Healthcare 
• Brookdale received approximately $300 million of cash proceeds at closing, net of customary transaction costs and purchase price adjustments, including a reduction for the remaining outstanding balance as of the closing of Medicare Advance Payments and deferred payroll tax payments related to BHS.

Brookdale Senior Living Inc. operates independent living, assisted living, Alzheimer’s and dementia care communities, managing 695 communities in 42 states as of March 31, 2021, with the ability to serve approximately 60,000 residents and 16,000 patients.