Wellmont Health System, a seven-hospital network based in Kingsport, Tenn., announced it will become the new owner of Greeneville, Tenn.-based Takoma Regional Hospital.
Here are six things to know about the transaction.
1. After a comprehensive evaluation by Wellmont and Altamonte Springs, Fla.-based Adventist Health System, Takoma Regional will now become solely a member of Wellmont. The two organizations jointly owned Takoma Regional from 2007 until 2014, when they concluded the most appropriate direction for the hospital was to have only one owner — Adventist Health System.
2. In addition to the hospital, Takoma Medical Associates, the umbrella organization for its integrated physicians, will become part of Wellmont. Takoma Medical Associates includes primary care physicians, as well as physicians in a host of specialties, including obstetrics, gynecology, psychiatry, general and orthopedic surgery, neurology and gastroenterology.
3. Financial terms of the deal were not disclosed.
4. The change in ownership is expected to be complete Nov. 1.
5. In an interview with The Greeneville Sun Monday afternoon, Wellmont President and CEO Bart Hove said he doesn't expect any changes for Takoma Regional physicians, staff or patients as a result of the transition. He also noted in the interview that Wellmont will work to preserve 108-bed Takoma Regional's faith-based tradition, and that the name of the hospital will remain the same.
6. The decision about Takoma Regional has no connection to the proposed merger between Wellmont and Mountain States Health Alliance. If the merger is finalized at the end of the year, Takoma Regional will become part of the new health system, Mr. Hove said in a news release.
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