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City Officials Approve Pauls Valley General Hospital Sale

City officials approved the sale of Pauls Valley (Okla.) General Hospital to St. Anthony Hospital in Oklahoma City, according to a Pauls Valley Daily Democrat report.

In September, PVGH was narrowing its partnership options after sending multiple requests for proposal.

According to the proposed deal, St. Louis-based SSM Healthcare, St. Anthony's parent company, will pay $7.6 million for PVGH's land and property. SSM will also commit $2.7 million for facility renovations and the purchase of new equipment. Additional changes include changing the hospital's name to St. Anthony Pauls Valley Hospital and transitioning PVGH's board to a community leader-based advisory council, which will support SSM's board of directors.

The next steps include SSM signing a letter of intent outlining the proposal to begin a 90-day due diligence process. According to the report, if St. Anthony and Pauls Valley agree on a proposal after the due diligence phase, they would enter into an official contract with a goal of closing the deal around April 2013.

More Articles on Hospital Sales:

Ascension Health Enters Negotiations to Sell St. Joseph, St. Mary's Medical Centers to HCA Midwest Health
MaineGeneral Health Still Seeking Buyers for 2 Hospital Campuses Following Auction
SunLink Health Systems Completes Sale of Memorial Hospital in Georgia

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