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

Carilion Clinic Sells Bedford Memorial Hospital to Centra Health

Carilion Clinic, based in Roanoke, Va., has decided to transfer full ownership of Bedford (Va.) Memorial Hospital and its Oakwood Health and Rehabilitation Center to Lynchburg, Va.-based Centra Health.

Financial terms of the sale were not disclosed. Carilion and Centra have jointly owned and managed the 50-bed BMH and 111-bed long-term care facility since 2001. Once the sale of Carilion's 50 percent ownership stake is finalized, expected by the middle of this year, Centra will be the sole owner.

Executives said it was in the community's best interest to have only one owner of BMH. Carilion, which will reduce its acute-care hospital ownership from eight to seven, also has moved away from managing long-term care facilities.

Centra President and CEO E.W. Tibbs, who was born at BMH, said there will be a seamless transition and continued support. "As a nurse and former CEO of this hospital, I have a vested interest in its future and success," Mr. Tibbs said in a news release. "As healthcare changes, this hospital will play an important role in the well-being and health of this community. I'm eager for this homecoming and for Centra to be a greater part of this hospital."

BMH will become Centra's fourth hospital.

More Articles on Hospital Transactions:
United Kingdom Orders HCA to Sell 2 London Hospitals
Oconee Medical Center to Explore Transaction With Greenville Health System
Metropolitan Hospital of Miami Sold Again

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers