CoxHealth, a five-hospital system in Springfield, Mo., signed a letter of intent to acquire Barton County Memorial Hospital in Lamar, Mo., Oct. 10.
Under the letter of intent, all BCMH employees with good standing will retain their positions for at least one year following the acquisition. CoxHealth will also honor all existing physician contracts. Officials said there are currently no plans in place to cut positions at the hospital.
The organizations will enter into a period of due diligence to finalize an acquisition agreement. Officials expect to finalize the agreement by the end of the year.
"One of CoxHealth's priorities is to expand our services in the region and improve access to healthcare for people in the Ozarks, so this partnership is a perfect fit for us," said Steven D. Edwards, president and CEO of CoxHealth. "By combining the strength of CoxHealth and BCMH[,] we believe we can expand services in Barton County, find new efficiencies and bring new resources to the community that just would not be possible for a standalone hospital."