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Greenville Health System, Oconee Medical Center Formalize Affiliation

The boards of Greenville (S.C.) Health System and Seneca, S.C.-based Oconee Medical Center have approved a binding agreement that makes OMC part of GHS integrated health system.

Nonprofit OMC is a 169-bed, acute-care hospital with a medical staff that includes more than 120 physicians. GHS is a 1,358-bed academic health system that is home to the University of South Carolina School of Medicine.

The agreement grants GHS a 50-year lease that provides for full integration of OMC into the operations of GHS. The lease becomes effective on October 1, according to a news release.

"We're delighted to welcome Oconee Medical Center as an integral part of Greenville Health System," said Michael Riordan, president and CEO of GHS, in the release. "Together, we will make a positive impact on the health of the communities we serve by improving access, quality and value."

The operating lease will give GHS full responsibility for all of OMC's assets and liabilities. GHS will assume OMC's debt, which includes about $80 million in long-term bond-related debt.

More Articles on Mergers and Partnerships in the Healthcare Industry:

Banner Health, University of Arizona Health Network Launch Effort to Create Statewide Organization
District One Hospital Board Approves Allina Health Affiliation
Beaumont, Botsford and Oakwood Reach Definitive Agreement on $3.8B Merger

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