The Woods Memorial Hospital Board of Directors today announced it has
signed an asset purchase agreement for the acquisition of the hospital
by LifePoint Hospitals®, a leading hospital company focused on providing
quality healthcare close to home.
The transaction is expected to be completed in approximately 30 days,
subject to customary closing conditions. The specific terms of the
agreement were not disclosed.
"Our board of directors has been exploring ways to strengthen Woods
Memorial for the future and ensure our success and the health of our
community," said Woods Memorial Hospital CEO Steve Clapp. "LifePoint
Hospitals is an attractive partner for our hospital because of its
financial strength, extensive experience in operating community
hospitals like ours, and significant presence in this region. We are
confident that LifePoint is the right partner for Woods Memorial and our
community."
LifePoint has 10 hospital campuses in Tennessee, including Athens
Regional Medical Center located in Athens, Crockett Hospital in
Lawrenceburg, Hillside Hospital in Pulaski, Livingston Regional Hospital
in Livingston, Southern Tennessee Medical Center in Winchester,
Emerald-Hodgson Hospital in Sewanee, and HighPoint Health System with
four facilities in Gallatin, Trousdale and Carthage.
"Woods Memorial Hospital is a crucial source of healthcare services for
Etowah and the surrounding area," said Michael Clark, Division President
for LifePoint Hospitals. "We are excited for the hospital to join
LifePoint's network and to partner with its team to improve healthcare
throughout this region."
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