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Piedmont Healthcare to add Newton Medical Center to network

Atlanta-based Piedmont Healthcare and Covington, Ga.-based Newton Medical Center announced Thursday both organizations have agreed to terms of a long-term lease agreement to add Newton to the Piedmont system.

Pending regulatory approvals, the 97-bed Newton Medical Center is expected to become a subsidiary of Piedmont October 1 and be renamed Piedmont Newton Hospital.

"Because of Piedmont's reputation, we have been anticipating this affiliation for months," Newton CEO James Weadick said in a statement. "Their manner of placing safe patient care, concern for their personnel and caring for the community where they serve is compatible with ours. The high quality of specialists and services they provide is a great opportunity for our community. We're excited about what this means for our employees and patients."


More articles on transactions and valuation:

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