CHI Memorial Hospital acquires ASC, medical center — 4 insights

Chattanooga, Tenn.-based CHI Memorial Hospital will acquire Ringgold, Ga.-based Hutcheson on the Parkway as well as Fort Oglethorpe, Ga.-based Cornerstone Medical Center.

Here's what you should know:

1. Hutcheson on the Parkway was an ASC that was owned and operated by Hutcheson Medical Center. The center is currently owned by an area bank. Hutcheson sold the center to the bank after closing the ASC, the Times Free Press reports. 

2. CHI Memorial will rename the ASC to CHI Memorial — Parkway, while reopening it. The hospital will rename the medical center to CHI Memorial Hospital — Georgia.

3. CHI Memorial Hospital has more than $3,500 employees and 661 medical staff members.

4. Deal terms were not announced.

CHI Memorial CEO Larry Schumacher said in a release, "This is an opportunity to enhance the services that we can offer in the North Georgia region and build upon the good work that has been accomplished by the Cornerstone team. In light of the ever-changing healthcare landscape, this will help ensure we keep our enduring promise of exceptional quality healthcare to the residents of the entire region."

More articles on transactions/valuations:
Nobilis opens ASC in El Paso: 5 things to know
Sioux Falls Specialty Hospital physician owners to open urgent care hospital: 4 things to know
Idaho women's clinic affiliates with Bingham Memorial Hospital, includes Skyline Surgery Center: 5 key notes

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