Facing a $237 million federal judgment for submitting false claims to Medicare, Tuomey began exploring partnership options to avoid closure. The two systems have been in partnership talks since February when Tuomey entered exclusive negotiations with Palmetto Health.
Palmetto Health and Tuomey want to finalize their merger agreement by Oct. 1, with the goal of completing the deal by Jan. 1, 2016, according to the report.
“We are very pleased about moving forward with our partnership with Tuomey Healthcare System,” said Charles D. Beaman Jr., CEO of Palmetto Health.
More articles on healthcare industry transactions:
31 hospital transactions and partnerships in August
University Hospitals inks merger deal with Samaritan Regional Health System
South Carolina hospital on verge of closure secures new owner
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