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Vatican approves Cabell Huntington's acquisition of St. Mary's

The Vatican approved the proposed acquisition of Huntington, W.Va.-based St. Mary's Medical Center by Cabell Huntington (W. Va.) Hospital, Cabell Huntington announced March 26.

"The Vatican approved the transaction with the understanding that the values and mission established by the Pallottine Sisters will continue at St. Mary's Medical Center after the transaction is complete," according to the news release.

The Vatican's approval represented the final hurdle to the proposed merger. The organizations required the church's approval as St. Mary's is a Catholic institution.

Officials expect to close the deal by the end of April.

Cabell Huntington and St. Mary's signed a definitive agreement for the acquisition in 2014. However, the deal faced significant pushback from several Huntington-based organizations, and resulted in a nearly four-year legal battle between Cabell Huntington and one of the merger's strongest opponents. However, the hospital and the organization, Steel of West Virginia, were able to come to a compromise earlier this year, ending the legal challenge.

More articles on transactions and valuations:
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