Stockbridge, Ga.-based Henry Medical Center has chosen to partner with Piedmont Healthcare in Atlanta, according to an HMC news release.
The decision follows a nine-month search process by a steering committee that included board members from HMC, Piedmont and Henry County, Ga.; medical staff leaders; and hospital administrators. The final agreement will need to be approved by the Georgia Attorney General's office, a process which is expected to take several months.
The partnership will operate through a long-term lease, in which the Hospital Authority will continue to own and lease hospital assets to Henry Medical Center, which will become a subsidiary of Piedmont Healthcare. Piedmont will be able to operate the hospital and will be the guarantor on existing bonds. Furthermore, the final agreement would eliminate the $1 million tax levy.
Benefits of the partnership include increased quality of care, customer service, purchasing power and access to capital; the development and expansion of clinical services; and economies of sale, according to the release.
Read the HMC release on Henry Medical Center's partnership with Piedmont Healthcare.
Read more coverage on Piedmont Healthcare:
- Atlanta's Piedmont Healthcare Signs Letter of Intent With 38-Member Physician Group
- Atlanta's Piedmont and St. Joseph's Hospitals End Merger Talks
- Atlanta's Piedmont Explores Affiliation With Henry Medical Center
The decision follows a nine-month search process by a steering committee that included board members from HMC, Piedmont and Henry County, Ga.; medical staff leaders; and hospital administrators. The final agreement will need to be approved by the Georgia Attorney General's office, a process which is expected to take several months.
The partnership will operate through a long-term lease, in which the Hospital Authority will continue to own and lease hospital assets to Henry Medical Center, which will become a subsidiary of Piedmont Healthcare. Piedmont will be able to operate the hospital and will be the guarantor on existing bonds. Furthermore, the final agreement would eliminate the $1 million tax levy.
Benefits of the partnership include increased quality of care, customer service, purchasing power and access to capital; the development and expansion of clinical services; and economies of sale, according to the release.
Read the HMC release on Henry Medical Center's partnership with Piedmont Healthcare.
Read more coverage on Piedmont Healthcare:
- Atlanta's Piedmont Healthcare Signs Letter of Intent With 38-Member Physician Group
- Atlanta's Piedmont and St. Joseph's Hospitals End Merger Talks
- Atlanta's Piedmont Explores Affiliation With Henry Medical Center