Dan Smith, a member of the board of directors for SWMC, told the Sonoma West Times and News March 10 Americore Health failed to provide the immediate $500,000 cash infusion it had promised as part of its plan to help the financially struggling medical center.
However, Americore Health CEO Grant White told the Ellwood City Ledger Mr. Smith’s comments were “erroneous.” He said in an email statement to the publication the hospital operator maintained three separate agreements with SWMC; none of them included the requirement Americore Health issue an initial capital payment.
Mr. White told the Ellwood City Ledger the deal with SWMC will have “zero impact” on Americore Health’s pending acquisition of Ellwood (Pa.) City Hospital.
More articles on transactions and valuations:
Breaking up is hard to do: 3 healthcare transactions that fell apart so far in 2017
Avera Sacred Heart Hospital purchases SD specialty hospital
Carolinas HealthCare, YMCA expand partnership
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