Dobbs Equity Partners, a private investment company that agreed to buy Bamberg (S.C.) County Hospital and Barnwell (S.C.) County Hospital, has failed to close the deal to build a new hospital by deadline, according to a WJBF News Channel 6 report.
In September, the hospitals and Dobbs Equity Partners made a deal in which the firm would acquire both hospitals, which would merge to create a regional health system. The organizations also planned a new hospital and two ambulatory care centers as part of the agreement.
However, Dobbs Equity Partners did not close the deal to build a new regional facility by deadline. The company's vice president said the firm was not ready to sign because certain terms were not met, according to the report. While he said the firm will move forward with the acquisition, it may not build a new hospital; he said a new facility is less of a priority than recruiting new physicians to the community, according to the report.
In addition, after 60 days the private equity firm shut down an urgent care facility it operated at the former Bamberg Hospital due to low volume. Bamberg Hospital closed in May due to decreasing volume and financial losses.
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In September, the hospitals and Dobbs Equity Partners made a deal in which the firm would acquire both hospitals, which would merge to create a regional health system. The organizations also planned a new hospital and two ambulatory care centers as part of the agreement.
However, Dobbs Equity Partners did not close the deal to build a new regional facility by deadline. The company's vice president said the firm was not ready to sign because certain terms were not met, according to the report. While he said the firm will move forward with the acquisition, it may not build a new hospital; he said a new facility is less of a priority than recruiting new physicians to the community, according to the report.
In addition, after 60 days the private equity firm shut down an urgent care facility it operated at the former Bamberg Hospital due to low volume. Bamberg Hospital closed in May due to decreasing volume and financial losses.
More Articles on Bamberg and Barnwell County Hospitals:
Bamberg County Hospital Closes, Opens Urgent-Care Clinic in its PlaceBamberg County Hospital in South Carolina to Cease Inpatient Services
South Carolina's Bamberg, Barnwell Counties Approve Development of Regional Health System