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Mountain States Health Alliance to Acquire Unicoi County Memorial Hospital

Erwin, Tenn.-based Unicoi County Memorial Hospital's board of control voted Nov. 28 to accept Johnson City, Tenn.-based Mountain States Health Alliance's acquisition proposal, according to a Johnson City Press report.

According to MSHA's proposal, it will assume all of UCMH's debt and financial obligations, retain UCMH staff, provide voluntary contributions of $750,000 each to the town of Erwin and Unicoi County and provide UCMH with a $2 million line of credit, according to the report.

According to the report, MSHA will assume management of UCMH and work closely with its board on the acquisition agreement details between now and when the final agreement is signed.

More Articles on Hospital Acquisitions:

Prime Healthcare Services to Purchase St. Mary's Hospital
4 Tips for Hospital Merger & Acquisition Success
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