At a healthcare-focused luncheon presented by Williamson, Inc., leaders from Williamson Health and Ascension Saint Thomas made their alliance clear.
The panel, which also featured Mitch Edgeworth of HCA Healthcare and CJ Stimson of Vanderbilt Health, took place Thursday in the midst of acquiring the publicly owned and county-governed hospital system that has been in operation for 70 years.
In July, the Williamson Health Board of Trustees voted unanimously to sell the hospital to Ascension Healthcare, which has 91 hospital locations, including two in Nashville. The sale would total up to $950 million paid back to the Williamson County government if its commission approves.
The Williamson County Commission Property Committee has led discussions on the potential sale, and expressed concern about a recent instance of medical malpractice at Ascension Saint Thomas Midtown. Ultimately, the full commission agreed in September to approve a letter of intent, a non-binding agreement between the two hospitals that gives a deadline by which the sale must be resolved or terminated. That time is set to run out on January 7, with the option of two 30-day extensions.
“Right now we're in the process of due diligence,” said Phil Mazucca, CEO of Williamson Health at Thursday's panel. “We have a signed letter of intent. We're going through diligence, and we're putting together a definitive agreement that will ultimately go to the board and then the county commission for approval.”
After the definitive agreement is approved by the county commission, the deal must be approved by the state attorney general and the Federal Trade Commission — a process that could take several months, he said Thursday.
“It is an incredible honor for us to be entrusted with the next chapter of Williamson Health,” said Fahad Tahir, president and CEO of Ascension Saint Thomas. “The board and the leadership team was incredibly thoughtful in going through a methodical process with experts from across the country to help make a determination to go through this process. We're honored to be selected, honored to be part of the next chapter, leading the future of healthcare for Williamson Health.”
At the most recent property committee meeting on Oct. 28, Jesse Neil, partner at legal firm Foley & Lardner representing Williamson County Commission, confirmed that the diligence is underway with the help of Mayor Martin.
Neil noted that Ascension proactively organized a meeting about its recent medical errors.
“We’re still organizing the material and conducting related research and we’ll incorporate that into our formal responses that we receive from Ascension,” he said of the meeting.
The law firm has asked Ascension about qualifications, financial capacity, operational plans, governance structure and capital commitment plan, with plans to review the responses as they come in and summarize them for the county commissioners. The firm also inquired about organizational structure, real property, schematics, billing and coding data, financial data and EMS services, Neil said.
Neil said the commissioners will have access to the first drafts of definitive agreements to review in the next week or two.
The letter of intent exclusivity lasts through Jan. 7 with two extensions automatically added if work is still underway. Neil said he anticipates the deal would officially close in the summer of 2027 if approved.