According to a signed statement by officials at both hospitals, Laughlin Memorial will merge into MSHA. MSHA will subsequently assume any future liabilities or benefits related to the hospital. Laughlin Memorial will continue to be locally governed and all leadership will retain their current positions. Employees will also gain access to all the benefits and services belonging to MSHA employees, according to the article.
The merger does not include a financial transaction.
The rural hospital and health system will enter into a period of due diligence before signing the official agreement. Officials said they hope to complete the process in early 2017.
“We’re thrilled to announce our historic decision to join Mountain States,” said Chuck Whitfield, president and CEO of Laughlin Memorial, in a statement. “Officially becoming part of Mountain States is a natural next step for us. For more than 20 years, we have collaborated together in various ways to enhance healthcare services in Greeneville and in our surrounding communities. This step will allow Laughlin and MountainStates to be more successful as an integrated system devoted to measurably high-value care for our communities.”
More articles on transactions and valuations:
Banner Health completes acquisition of 32 urgent care centers in Ariz.
Door County Medical Center, Hospital Sisters Health System embark on affiliation
Independent physicians’ group opposes Wellmont, MSHA merger
