Last month, Mission Health in Asheville, N.C., announced Angel Medical Center would become part of its system, and this week, the transaction was finalized, according to a Mission Health news release.
Since May 2011, Mission Health had a management agreement with Angel Medical Center, a 25-bed critical access hospital in Franklin, N.C. Jim Bross, president and CEO of Angel Medical Center, said in the news release the hospital decided to join Mission Health to "prepare for the future" and keep patient care local.
According to a Smoky Mountain News report, Mission Health will cover $16 million of Angel Medical Center's debt and help with commercial payer contracting.
Although Angel Medical Center is part of Mission Health, the deal was not a merger or full acquisition, but more of an affiliation. Mission Health now has six acute-care hospitals within its system.
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