The purchase agreement includes a commitment to construct a replacement hospital within five years of the closing date.
Commenting on the announcement, Wayne T. Smith, chairman, president and CEO of Community Health Systems, said, “The acquisition of Memorial Health Systems extends our strong track record of growth and investment in Pennsylvania. The hospital’s medical staff and employees provide high-quality healthcare services in a competitive environment. We look forward to applying our proven operating strategies, physician recruitment resources, and access to capital to support the care they provide for their patients and to help bring life to a new, modern medical facility that advances clinical quality and the hospital experience.”
Related Articles on Transactions & Valuation:
Florida’s Mease Dunedin Hospital Renovates Surgery Center
South Dakota’s Vance Thompson Vision to Build $6 Million Surgery Center
Advanced Center for Surgery Opens in Pennsylvania
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
