The hospitals had been in talks regarding an acquisition since August 2014, and received their final approval from the Vatican in March to proceed with the acquisition, as St. Mary’s is a Catholic institution.
Sister Mary Grace Barile with St. Mary’s Medical Center said during a press conference May 3 the declining number of sisters to run the hospital was part of the reason the sisters approved Cabell Huntington’s acquisition proposal for the hospital. The sisters will remain on the hospital’s board of directors, the report states.
The acquisition faced significant pushback from several Huntington-based organizations, and resulted in a nearly four-year legal battle between Cabell Huntington and one of the transaction’s strongest opponents. However, the hospital and the organization, Steel of West Virginia, were able to come to a compromise in January, ending the legal challenge.
More articles on transactions and valuations:
Baptist Health to acquire Hardin Memorial Health for $361M
34 healthcare partnerships and transactions in April
Tenet completes divestiture of 143-bed St. Louis hospital
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