Health Management Associates, based in Naples, Fla., has signed a definitive agreement with Lexington, Ky.-based Appalachian Regional Healthcare to sell Williamson (W.Va.) Memorial Hospital, Health Management's only hospital in West Virginia, according to a Williamson Daily News report.
ARH President and CEO Joe Grossman issued a statement to the Williamson Daily News, saying the transaction is expected to close in February 2014. Financial terms of the deal were not disclosed.
The 76-bed Williamson Memorial, which sits near the Kentucky-West Virginia border, is only two miles from ARH's Williamson ARH Hospital in South Williamson, Ky. Mr. Grossman said the acquisition would allow ARH to "build on its strategic plan" and improve care in the region.
"Our purpose in acquiring Williamson Memorial is to ensure that healthcare in the Tug Valley is provided at the highest level of quality as well as efficiently as possible," Mr. Grossman said in the release. "This will ensure that our community has full access to the best healthcare services and that our providers have the resources to continue the delivery of high quality care to our community."
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