University Hospital in Augusta, Ga., made progress in its proposed acquisition of McDuffie Regional Medical Center yesterday when University's board approved a memorandum of understanding between the groups, according to an Augusta Chronicle report.
Parent company University Health approved the agreement, which calls for University to acquire McDuffie, located in Thomson, Ga., and build a replacement hospital of the same size. University would retain McDuffie's current employees at equivalent wages, and services would not change.
McDuffie Regional has struggled to get the capital necessary for a facility replacement, as its current building is aging, according to the report.
University will take the next 60 days for due diligence and then will submit the acquisition to the Georgia Attorney General's Office for review.
Healthcare Mergers and Acquisitions Poised for 20% Growth Over Last Year's M&A Activity
6 Overlooked Hospital M&A Concepts and Trends
Parent company University Health approved the agreement, which calls for University to acquire McDuffie, located in Thomson, Ga., and build a replacement hospital of the same size. University would retain McDuffie's current employees at equivalent wages, and services would not change.
McDuffie Regional has struggled to get the capital necessary for a facility replacement, as its current building is aging, according to the report.
University will take the next 60 days for due diligence and then will submit the acquisition to the Georgia Attorney General's Office for review.
Related Articles on Hospital Acquisitions:
16 Recent Hospital Mergers and AcquisitionsHealthcare Mergers and Acquisitions Poised for 20% Growth Over Last Year's M&A Activity
6 Overlooked Hospital M&A Concepts and Trends