Licking Memorial Health System in Newark, Ohio, has completed the purchase of Medical Center of Newark, a 20-bed physician-owned hospital.
The $26 million deal included a real estate transaction of approximately $19 million and an asset purchase of just over $7 million.
The agreement was announced in early December, and 160 layoffs are expected as a result of the deal.
Medical Center of Newark will reopen Jan. 7 as a LMHS-branded facility.
Licking Memorial Health System, Medical Center of Newark Enter Purchase Agreement
The $26 million deal included a real estate transaction of approximately $19 million and an asset purchase of just over $7 million.
The agreement was announced in early December, and 160 layoffs are expected as a result of the deal.
Medical Center of Newark will reopen Jan. 7 as a LMHS-branded facility.
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Sale of Medical Center of Newark in Ohio Results in 160 LayoffsLicking Memorial Health System, Medical Center of Newark Enter Purchase Agreement