Carilion Clinic has completed its purchase of Lexington, Va.-based Stonewall Jackson Hospital, the Roanoke, Va.-based organization said July 24.
Carilion bought the last 20 percent share of Stonewall Jackson Hospital from SJH Community Health Foundation for $10.9 million. The move gives Carilion full ownership of the facility.
Now that Carilion is the owner, the facility will be renamed Carilion Rockbridge Community Hospital.
Fifteen years ago Carilion purchased a majority share of the hospital. The full purchase agreement between the foundation and Carilion has been in the works for two years, according to the news release.
"Today's announcement marks the beginning of the next chapter in the 15-year partnership between Carilion and the SJH Community Health Foundation," said Richard Teaff, PhD, chair of the Stonewall Jackson Hospital Board of Directors. "This arrangement will allow Carilion to simplify management of the hospital, and it will enable the foundation to focus significant resources on our neighbors' healthcare needs."