MUSC buys 4 hospitals

The deal is done: the Medical University of South Carolina has bought four rural hospitals around the state in a first-of-its-kind deal for the Charleston-based health system.

The acquisitions were valued at $176 million, including $39 million in leases MUSC is taking over. The $137 million balance is being financed with borrowings from a U.S. Department of Housing and Urban Development program.

The purchases expand MUSC’s reach to one hospital each in Chester, Marion, Lancaster and Florence counties. They are to be renamed to reflect the ownership change.