Investment group buys Ohio hospital

A real estate investment fund has acquired East Ohio Regional Hospital in Martins Ferry and plans to reopen the facility later this year, according to The Intelligencer

Advertisement

Irvine, Calif.-based Alecto Healthcare Services closed 140-bed East Ohio Regional in September, a few weeks after shutting down Ohio Valley Medical Center in Wheeling, W.Va.

Few details have been released by East Ohio Hospital LLC, the group that acquired East Ohio Regional. A lawyer involved in the transaction said more announcements will be made in coming weeks. 

The real estate investment fund intends to reopen East Ohio Regional as a medical facility. The group also operates a mental health facility outside of Dayton, Ohio, according to WTOV

More articles on healthcare industry transactions:
Baptist Health speeds up $361M deal for 9th hospital
For-profit hospital M&A update: 12 deals involving CHS, HCA and Quorum
Hoag sues to end Providence affiliation

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.

Advertisement

Next Up in Transactions & Valuation Issues

Advertisement

Comments are closed.