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Piedmont's service area covers 85% of Georgia residents after 4-hospital buy: Moody's

After a recent acquisition of four Georgia acute care hospitals from HCA Healthcare, Atlanta-based Piedmont Healthcare now has the ability to serve about 85 percent of Georgia residents, according to a new credit rating action from Moody's Investors Services.

Nashville, Tenn.-based HCA Healthcare sold the hospitals to Piedmont on Aug. 1. The four hospitals involved in the sale were the Eastside Medical Center in Snellville; the Cartersville Medical Center; and the two-hospital Coliseum Health System, which includes Coliseum Medical Centers in Macon and Coliseum Northside in Macon. With the transaction complete, the hospitals will be renamed Piedmont Eastside Medical Center, Piedmont Cartersville Medical Center, Piedmont Macon Medical Center and Piedmont Macon North Hospital.

The deal also includes transferring ownership of an inpatient behavioral health facility in Macon. Together, the facilities add 882 beds to Piedmont's network and will increase Piedmont's operating revenue by about 18 percent. The deal also will expand Piedmont's presence in Macon and fortify its presence around Atlanta, Moody's said. 

"This statewide presence will enable the Piedmont Clinic, PHC's clinically integrated physician network and market differentiator, to continue to expand into new markets and attract independent physician groups," Moody's said.

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