The two organizations initially signed a letter of intent in October 2019.
Last week, the hospital’s parent company Meadows Health Alliance, its board of directors and the Toombs County Hospital Authority approved the sale of the medical center and its assets to the for-profit healthcare company.
The transaction still needs approval from the Georgia attorney general, and a public hearing must be held because Meadows Regional is a nonprofit, community-owned facility being sold to for-profit HCA.
The public hearing is slated to occur in March, and the organizations expect to finalize the deal on or before April 30.
“Stand-alone community hospitals are finding it more difficult to survive in today’s healthcare environment. That pressure has only increased with the COVID pandemic,” Meadows Regional CEO Alan Kent told The Advance. “With HCA we become part of one of the most efficient, highest-quality health care systems in the country.”
More articles on healthcare industry transactions:
Ascension to sell 7 Wisconsin hospitals, 21 clinics to Aspirus
Froedtert to acquire majority stake in Wisconsin hospital
CommonSpirit to sell 14 hospitals to Essentia Health
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