Under the agreement, Christus Health will acquire the medical center and its associated assets. Christus will also offer current LAMC employees in good standing the opportunity to continue in their positions once the transaction is complete.
Officials expect to close the transaction in the second quarter of 2017, subject to customary regulatory approval.
“Our mission for the last 150 years has been to extend the healing ministry of Jesus Christ, and with the announcement of this agreement, we are continuing to build upon and strengthen our mission for years to come,” said Ernie Sadau, president and CEO of Christus Health. “This agreement will ensure the continued availability of high quality care close to home.”
More articles on transactions and valuations:
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