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VCU Health System to Absorb Community Memorial Healthcenter

Virginia Commonwealth University Health System in Richmond and Community Memorial Healthcenter in South Hill, Va., have signed a preliminary merger deal.

Under the deal, CMH will become part of VCU Health System by June 30, pending state and federal approval. The 260-bed hospital will be renamed VCU Community Memorial Hospital. VCU will also invest at least $75 million into CMH, with most of those funds going toward a new hospital, health IT and physician recruitment.

CMH initially received interest from eight partners when it went to the market last year. VCU, which includes 865-bed VCU Medical Center, already has a relationship with CMH through the VCU Massey Cancer Center.

More Articles on Hospital Transactions:
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