Palmetto Health, based in Columbia, S.C., and Greenville (S.C.) Hospital System University Medical Center (GHS) have announced that the organizations will jointly own and operate Palmetto Health Baptist Easley hospital, according to a news release from GHS.
Under the arrangement, the 109-bed hospital, presently owned and operated by Palmetto Health, will integrate with GHS and its 380-physician network in a 50/50 joint venture.
Baptist Easley will become a free-standing 501(c) 3 healthcare organization, with an eight-member governing board that will include representatives of the Easley community.
GHS will pay $45 million for a 50 percent interest in the newly reconstituted Baptist Easley hospital, according to the news release. GHS will also match approximately $4 million currently held by the Baptist Easley Foundation. These contributions are used to support the hospital in community philanthropic outreach.
Read the news release about the Palmetto Health and GHS joint venture.