Licking Memorial Hospital, Physician-Owned Medical Center of Newark Sign Confidentiality Agreement on Unspecified Business Deal

Rachel Fields -

Licking Memorial Hospital and the physician-owned Medical Center of Newark have signed a confidentiality agreement as they discuss an unspecified business deal, according to a Newark Advocate report.

LMH has made efforts to compete with the surgical hospital over the years, including leasing 13 acres next to Medical Center of Newark to prevent its expansion. This forced MCN to build a more costly second-floor addition, eventually creating 33 beds when it added inpatient surgeries.

MCN started as the Newark Surgery Center, an outpatient facility. MCN completed its $19.5 million in expansion in December 2007, combining and expanding the former Newark Surgery Center and Newark Health Imaging.

Related Articles on Transactions & Valuation:
Paul Phillips Eye & Surgery Center Opens in New Jersey
IMA Endoscopy Surgicenter in IN to Be Acquired by Methodist Hospitals
4 Factors Affecting ASC Valuation and Sales

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.