Kingsport, Tenn.-based Wellmont Health System is moving forward with plans to become the sole owner of Greeneville, Tenn.-based Takoma Regional Hospital, according to Times News.
The health system's board of directors voted to add Takoma Regional to the hospital's network. Officials said they plan to complete the transaction by the end of the year.
Altamonte Springs, Fla.-based Adventist Health System and Wellmont jointly owned Takoma Regional from 2007 to 2014. In 2014, the institutions decided AHS would take full ownership of the hospital.
In 2015, Wellmont and AHS officials agreed to transfer ownership to Wellmont, according to the article.
Wellmont's President and CEO Bart Hove said the transfer of ownership will have no impact on the health system's proposed merger with Johnson City, Tenn.-based Mountain States Health Alliance, according to the article.
"We are extremely pleased to inform the community about this development and are excited by what the future holds," said Mr. Hove in a statement. "Together, we and Takoma Regional will be able to enhance the quality of care in GreeneCounty by sharing best practices and our collective strengths. We appreciate everyone's support and are confident the result of Takoma joining Wellmont will benefit the region considerably."