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FinanceAdventHealth and Intermountain Health plan joint venture in Denver
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Nonprofit health systems AdventHealth and Intermountain Health have signed a letter of intent to form a joint venture combining their services in the Denver, Colorado area. The proposed partnership would bring together AdventHealth's five hospitals (Avista, Castle Rock, Littleton, Parker, Porter) with Intermountain's three hospitals (Good Samaritan, Lutheran, Platte Valley) and related clinics. AdventHealth would manage day-to-day operations and hold a majority membership interest, with ownership split based on a fair valuation approach. Intermountain's Saint Joseph Hospital in Denver is excluded from the deal, with the system exploring other options for that facility. The definitive agreement is expected in weeks, with closure anticipated in early 2027 pending regulatory clearance. AdventHealth reported $23 billion in operating revenue in 2025 with a 12.8% average margin, while Intermountain logged $18 billion in revenue, an 8% year-over-year increase.
Source report
By: Sydney Halleman, Healthcare Dive
Dive Brief
- Nonprofit health systems AdventHealth and Intermountain Health have taken the first step toward forming a partnership to unite their services in the Denver area.
- The proposed joint venture would combine AdventHealth's five hospitals, urgent care centers, medical practices, and off-site emergency clinics around Denver with Intermountain's three hospitals and related practices in the region, the systems announced Tuesday.
- AdventHealth and Intermountain have signed a letter of intent and anticipate signing a definitive agreement in the coming weeks. The transaction is expected to close early next year, pending regulatory approval.
Dive Insight
The joint venture would bring together the following hospitals:
- AdventHealth facilities: Avista, Castle Rock, Littleton, Parker, and Porter
- Intermountain facilities: Good Samaritan, Lutheran, and Platte Valley, along with related clinics
AdventHealth would manage day-to-day operations of the facilities, according to a release from the systems. AdventHealth is expected to hold a majority membership interest in the joint venture, though both parties will split interest based on a "fair valuation approach" agreed upon by each.
Intermountain's Saint Joseph Hospital and affiliated clinics in Denver are not included in the joint venture. The system stated it is still exploring options for the hospital, including other potential partnerships.
Expansion Strategy
The partnership is expected to support AdventHealth's multi-state expansion and push the Florida-based system westward. AdventHealth, which owns and manages 55 hospitals across nine states, has recently:
- Expanded hospital campuses in Florida
- Started construction on new facilities in North Carolina
Financial Context
AdventHealth's expansions have been supported by a strong financial portfolio:
- 2025 operating revenue: $23 billion
- Average operating margin over the past five years: 12.8% (per Fitch Ratings)
Salt Lake City-based Intermountain owns 34 hospitals across Utah, Colorado, Nevada, Montana, Idaho, and Wyoming. In 2025, the system reported $18 billion in revenue, an increase of nearly 8% year over year.
This story was originally published on Healthcare Dive. To receive daily news and insights, subscribe to the free Healthcare Dive newsletter.
Source
Yahoo FinanceWestern
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Intermountain Health and AdventHealth Plan Joint Venture in Denver