CHS signed a definitive agreement April 20 to sell San Angelo Community Medical Center and its associated assets to Shannon Health in San Angelo. The transaction requires approval by the Texas Health and Human Services Commission.
On Aug. 5, physicians at the hospital were informed state approval of the deal is delayed due to a slower-than-expected Certificate of Public Advantage review, according to the report. The COPA framework helps state’s avoid the Federal Trade Commission’s authority to challenge deals that it views as anticompetitive.
Due to the delay, the review is expected to be completed by Sept. 30, about a month later than planned, according to San Angelo Live, which cited an email to physicians from San Angelo Community Medical Center CEO Ronald Schumacher.
More articles on healthcare industry transactions:
Trinity Health tried to sell struggling Chicago hospital for 18 months, papers show
Hospital integration not linked with better care, payment reforms, study finds
Marshfield Clinic acquires, renames 2 hospitals from Ascension
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
