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Sutter Health takes ownership stake in Stanislaus Surgical Hospital: 5 things to know

Sacramento, Calif.-based Sutter Health has signed an agreement to become majority owner of Stanislaus Surgical Hospital in Modesto, Calif.

Here are five things to know about the agreement.

1. The agreement will take effect April 1.

2. Under the agreement, Stanislaus Surgical, a licensed acute care hospital with eight operating rooms and 23 inpatient beds, will remain a separate business entity and will continue operations in its current form.

3. In a prepared statement, Bill Davis, CEO of Sutter Health's surgery center division, said the agreement helps Sutter Health move further along its strategic path "that accounts for a changing healthcare environment and today's value-minded consumer."

4. Daryn Kumar, CEO of Memorial Medical Center, Sutter Health's 423-bed hospital in Modesto, added, "Partnering with SSH adds value to our system, and complements the acute care and outpatient surgery services already available at Memorial Medical Center and the outpatient care provided by staff and physicians at Sutter Gould Medical Foundation."

5. The agreement comes years after Sutter Health began engaging in exclusive discussions with Stanislaus Surgical for a partnership in the delivery of surgical services in Modesto.

 

More articles on healthcare transactions:

Sale approved for shuttered Texas hospital
Capella, RegionalCare to merge into new $1.7B company: 10 things to know
5 recent healthcare transactions and partnerships

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