SGMC and Smith Northview Hospital representatives signed an asset purchase agreement on May 12, under which SGMC will acquire Smith Northview for approximately $40 million and assume some existing debt.
Until the transaction is finalized, both hospitals will continue normal operations and physicians and employees will retain their positions. Smith Northview’s CEO Jim Matney and CFO Shamb Purohit will continue their positions after closing.
The acquisition will eliminate duplicate services, expand patient services and lower costs, according to the release.
Read the SGMC release on its acquisition of Smith Northview Hospital.
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