HONOLULU (HawaiiNewsNow) - Queen's Medical Center will invest $73 million to acquire Hawaii Medical Center-West in Ewa.
Queens said it plans to reopen HMC-West by August next year, in a move that will create 400 new jobs.
HMC-West's shutdown last year put 1,000 people out of work and overloaded nearby emergency rooms and hospitals.
State Sen. Will Espero, (D) Ewa Beach, said the deal will mean a lot for patients in the Ewa plain who were forced to travel long distances to receive medical attention.
"I know the community will be happy with the news that Queen's Hospital will be eventually taking over the closed HMC-West," Espero said.
"People have been waiting anxiously for some positive news and it does look like things are falling into place and healthcare services will be returning to west Oahu, which had previously been eliminated."
HMC was forced to give up the 134-bed hospital after failing to emerge from its second bankruptcy in three years.
Since the hospital's closure, over 25,000 emergency patients and 3,300 hospital inpatients have had to seek care outside of their community.
Queens says the reborn HMC West will lose about $9million dollars in its first year of operations but the hospital will be profitable by its fifth year. The company said it plans to spend $52 million to renovate the complex and bring in new medical equipment.
Queen's said it plans to complete renovations and obtain regulatory approvals over the next 12 to 14 months.