Erlanger finance committee approves plan to purchase North Carolina hospital

Chattanooga, Tenn.-based Erlanger Health System is one step closer to acquiring its first hospital outside of Tennessee, according to the Times Free Press.

Advertisement

The health system’s budget and finance committee members approved a resolution to acquire Murphy (N.C.) Medical Center during a meeting Monday.

“We’ve been dating for two years, and we’ve set a wedding date,” Robert Brooks, executive vice president and COO of Erlanger Health System, said to the Times Free Press about the proposed transaction.

Under a previously released copy of the institutions’ change of control agreement, Erlanger will assume ownership and management of the 25-bed critical access hospital and its imaging center by April 1.

Erlanger’s board of directors is scheduled to meet Thursday to discuss the proposed acquisition, among other items, while Murphy Medical Center’s board is expected to meet Tuesday.

More articles on transaction and valuations:
Piedmont to invest $250M in Columbus Regional as part of proposed partnership
3 recent hospital transactions and partnerships
This week’s 3 most-read transactions and valuations stories

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

Advertisement

Next Up in Transactions & Valuation Issues

Advertisement

Comments are closed.