Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Unicoi County Memorial Hospital to Revisit Acquisition Proposals

The board of Unicoi County Memorial Hospital has decided to re-examine two health systems' bids to acquire the public-owned hospital, according to a Johnson City Press report.

In April, UCMH and Johnson City, Tenn.-based Mountain States Health Alliance agreed to a definitive agreement, which would have made UCMH the 14th hospital within the MSHA system.

However, in June, the Tennessee attorney general's office delayed the acquisition, citing concerns over open meeting laws and a lack of approval from local authorities.

UCMH's board said it will meet to reconsider MSHA's acquisition proposal as well as one from Wellmont Health System, an eight-hospital system based in Kingsport, Tenn. Both systems have said they would assume UCMH's debt and build a new replacement hospital.

More Articles on Hospital Transactions:
2 Jefferson Parish Hospitals in Louisiana Set for Privatization
Bowie Memorial Hospital Hunts for Partner
Saint Vincent Health System Joins Highmark's Health System

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars

>