Agreements were signed Friday to transfer the hospital from AHS to CHC, according to a news release. CHC has also negotiated a new long-term lease of the hospital facility.
Under the agreements, Jellico Community Hospital, as well as the hospital’s CarePlus Center in Williamsburg, Ky., will become part of CHC effective May 1, 2015, according to a news release.
Jimm Bunch, chairman of the board, Jellico Community Hospital, said in a statement, “We have been proud to serve the community of Jellico for 40 years but the financial pressures and hardship of managing a small community hospital without the partnership and resources of a larger system within the region are no longer sustainable. We are pleased that CHC will embrace and further our mission in this community.”
CHC has also entered into a clinical affiliation agreement with Louisville, Ky.-based Baptist Health.
More articles on transactions and valuation issues:
6 recent hospital transactions and partnerships
Ascension to purchase Michigan health insurer for $50M
Sale of 6 California hospitals to Prime approved — with strict conditions
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.