The Georgia attorney general's office agreed to review Nashville, Tenn.-based HCA Healthcare's filing to acquire Memorial University Medical Center, a 612-bed academic medical center in Savannah, Ga., for $710 million, according to the Savannah Morning News.
The AG's office will have 90 days to approve the sale and will schedule a public meeting in Savannah within the 90-day timeframe.
The hospital's board of directors and the Chatham County Hospital Authority approved HCA's proposal to purchase MUMC and signed a nonbinding letter of intent with the health system in April.
The $710 million purchase price includes the $430 million acquisition fee and an additional $280 million to be paid during the next 10 years to fund capital improvements. All other proceeds from the sale will go toward the Chatham County Hospital Authority to create an indigent care trust fund, the report states.