City council officials have unanimously approved the sale of Sistersville (W.Va.) General Hospital to Wheeling (W.Va.) Hospital for $5.5 million, according to The Intelligencer.
Under the terms of the agreement, Wheeling Hospital will assume SGH's debts and liabilities and will receive a $750,000 bridge loan to cover immediate, ongoing expenses at SGH until the sale closes, which officials expect to occur in late April, according to the report.
The sale includes SGH and its affiliated clinics, Sistersville, W.Va.-based Journey Hospice, the hospital's Sleep Medicine Center and its emergency medical and ambulatory services, according to the report. Wheeling Hospital will also be required under the agreement to operate SGH and its affiliated clinics for a minimum of one year after the transaction closes.
Brandon Chadock, interim CEO of Sistersville General Hospital, said the facility's level of service and staff will not be affected by the acquisition, according to the report.
"We are very pleased SGH and city leaders have placed their trust in our ability to enhance SGH's long-time commitment to providing its patients with the highest possible level of care. We understand the importance of having a home town hospital — one that can provide quality services to its patients," said Wheeling Hospital CEO Ron Violi, according to the report.