Cardinal Hill officials told WKYT that the hospital was sold to a larger system due to rising costs and increased pressure from regulating agencies.
The hospital will remain at its current location. No layoffs are expected, according to the report.
More articles on transactions and valuation issues:
North Shore-LIJ, Maimonides Medical Center exploring partnership
Centura Health deal may keep 135-year-old Colorado hospital open
Carson Health joins Sparrow Health Systems
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