Franklin, Tenn.-based Capella Healthcare has signed a definitive purchase agreement for a subsidiary that owns a majority interest in White County Community Hospital in Sparta, Tenn., to acquire a 60 percent ownership interest in Woodbury, Tenn.,-based Cannon County Hospital, according to a Capella news release.
CCH owns and operates DeKalb Community Hospital in Smithville, Tenn., and Stones River Hospital in Woodbury, Tenn. White County Community Hospital is an affiliate of Capella.
Following the closing of the transaction, which is planned for June 30, Capella Healthcare will manage all three hospitals. Bill Little, who has served as CEO for the two CCH facilities since July 2009, will assume responsibility for all three hospitals as market CEO. Current CCH CFO Sarah Clark will become market CFO for the new entity.
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CCH owns and operates DeKalb Community Hospital in Smithville, Tenn., and Stones River Hospital in Woodbury, Tenn. White County Community Hospital is an affiliate of Capella.
Following the closing of the transaction, which is planned for June 30, Capella Healthcare will manage all three hospitals. Bill Little, who has served as CEO for the two CCH facilities since July 2009, will assume responsibility for all three hospitals as market CEO. Current CCH CFO Sarah Clark will become market CFO for the new entity.
Related Articles on Hospital Transactions:
UNC Health Care Forms Committee to Review WakeMed Offer
Pennsylvania's Bloomsburg Health to Explore Merger With Geisinger Health
Arnot Ogden, St. Joseph's Merger Approved