Intermountain Health has agreed to pay $795 million for Surgery Partners ownership stakes in Mountain View Hospital and Idaho Falls Community Hospital. The Utah nonprofit becomes sole owner of the 88 bed Idaho Falls facility, while physician ownership at Mountain View continues unchanged under the agreement.
Intermountain Health has agreed to pay $795 million for the ownership interests that Surgery Partners holds in two hospitals and a set of affiliated clinics in Idaho Falls, deepening a relationship the Utah nonprofit entered in 2023 as a minority investor.
Assets changing hands carry an assumed market value of roughly $1.2 billion. Once the transaction closes, Intermountain will hold Idaho Falls Community Hospital outright. Mountain View Hospital will remain partly physician owned, and that structure is not altered by the agreement.
Idaho Falls Community Hospital began operating in 2019 and runs 88 beds. Mountain View Hospital is the older of the two facilities, with 38 beds at its core campus. A surgical hub added at Mountain View in 2022 broadened the range of procedures handled there, and the campus also operates a Level III neonatal intensive care unit.
Surgery Partners, a publicly traded company backed by private equity, disclosed the agreement through an investor announcement. Chief Executive Officer Eric Evans characterized the sale as the largest move so far in a portfolio optimization strategy, and he identified ambulatory surgery centers as the area the company intends to concentrate on going forward. Evans also described Intermountain as the appropriate owner to carry on the work physician partners at Mountain View began more than two decades ago.
Intermountain traces its origins to 1975, when the Church of Jesus Christ of Latter-day Saints donated 15 hospitals that were then organized under an independent nonprofit entity. That organization now operates 34 hospitals across six states, along with more than 400 clinics and medical groups, and it employs upward of 4,600 physicians.
Two conditions govern completion. Regulators must sign off through customary review, and physician owners at Mountain View must agree to the transfer of the Surgery Partners stake to Intermountain. Approval is not expected to raise unusual questions given the existing minority position Intermountain already holds in both hospitals and in the clinics tied to them.
Closing is anticipated in the coming months, with completion possible before the end of the year. Terms set the purchase price at $795 million, covering Surgery Partners equity in Mountain View Hospital, Idaho Falls Community Hospital and the associated clinic network, all located in Idaho Falls, Idaho.