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Phoenix's Banner Health to acquire Casa Grande hospital

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CASA GRANDE, Ariz. -- Phoenix-based Banner Health plans to acquire Casa Grande Regional Medical Center, a 177-bed not-for-profit community hospital in Pinal County.

Banner Health has signed a letter of intent to acquire the Casa Grande hospital and will provide interim funding as needed to keep it open until the acquisition is complete. Other terms were not disclosed in the Monday announcement.

The acquisition is subject to approval by regulators but is expected to occur by the middle of 2014.

The Casa Grande hospital has been burdened by unpaid care.

Banner Health is a nonprofit health care system that manages 23 acute-care hospitals and medical facilities ranging from long-term care centers to family clinics.

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