The deal will enable the Ohio Valley Hospital to expand its medical staff and clinical services and fund capital projects. The community hospital has faced financial challenges with high operating costs and decreasing reimbursement.
“Our priority has always been, and will continue to be, to provide and increase quality healthcare for our community members,” said Mark Brennan, board chairman of Ohio Valley Hospital. “Affiliating with Heritage Valley Health System will allow us to do just that.”
More articles on transactions and valuation:
Cleveland Clinic adds 4 hospitals
CHS divests 2 South Carolina hospitals
AHA finds hospital proximity matters in reaping merger benefits
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