Iberia Medical Center in New Iberia, La., and Progressive Acute Care, a Louisiana healthcare system based in Mandeville, entered into a non-binding letter of intent for IMC to acquire Dauterive Hospital in New Iberia.
Here are three things to know about the proposed transaction.
1. Under the deal, IMC plans to continue to operate Dauterive Hospital as an acute care hospital serving Iberia Parish.
2. IMC President and CEO Parker Templeton said in a news release the goal of the acquisition is "to continue the prosperity of both hospitals and offer new opportunities for growth." He added, "The acquisition will bring both hospitals together and unify the medical communities of New Iberia. We feel it is a strong solution to meeting the needs of our community in a changing healthcare environment."
3. The transaction is subject to the successful completion of customary due diligence and closing conditions and is expected to close by the end of this year.
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