Sponsored by VMG Health | gregk@vmghealth.com | 214.369.4888

Licking Memorial Health System Completes Acquisition of Medical Center of Newark

Share on Facebook
Licking Memorial Health System in Newark, Ohio, has completed the purchase of Medical Center of Newark, a 20-bed physician-owned hospital.

The $26 million deal included a real estate transaction of approximately $19 million and an asset purchase of just over $7 million.

The agreement was announced in early December, and 160 layoffs are expected as a result of the deal.

Medical Center of Newark will reopen Jan. 7 as a LMHS-branded facility.

More Articles on Licking Memorial Health System:

Sale of Medical Center of Newark in Ohio Results in 160 Layoffs
Licking Memorial Health System, Medical Center of Newark Enter Purchase Agreement

© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

New from Becker's Hospital Review

Cleveland Clinic finalizes Akron General minority ownership deal

Read Now