Valdosta, Ga.-based South Georgia Medical Center, a 335-bed facility, is acquiring 45-bed Smith Northview Hospital, also in Valdosta, according to an SGMC news release.
SGMC and Smith Northview Hospital representatives signed an asset purchase agreement on May 12, under which SGMC will acquire Smith Northview for approximately $40 million and assume some existing debt.
Until the transaction is finalized, both hospitals will continue normal operations and physicians and employees will retain their positions. Smith Northview's CEO Jim Matney and CFO Shamb Purohit will continue their positions after closing.
The acquisition will eliminate duplicate services, expand patient services and lower costs, according to the release.
Read the SGMC release on its acquisition of Smith Northview Hospital.
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SGMC and Smith Northview Hospital representatives signed an asset purchase agreement on May 12, under which SGMC will acquire Smith Northview for approximately $40 million and assume some existing debt.
Until the transaction is finalized, both hospitals will continue normal operations and physicians and employees will retain their positions. Smith Northview's CEO Jim Matney and CFO Shamb Purohit will continue their positions after closing.
The acquisition will eliminate duplicate services, expand patient services and lower costs, according to the release.
Read the SGMC release on its acquisition of Smith Northview Hospital.
Related Articles on Hospital Transactions:
Southwestern Vermont Health Care and Dartmouth-Hitchcock to Affiliate
UNC Health Care Rejects WakeMed's $750M Offer for Rex Healthcare
North Carolina's WakeMed Offers $750M for Rex Healthcare