St. Mary's Health Care System Inc., announced Wednesday it has signed a Letter of Intent to acquire Ty Cobb Regional Medical Center in Lavonia from Ty Cobb Healthcare System Inc.
According to a statement released by St. Mary's HCS, "Terms of the proposed purchase are confidential and several regulatory agencies must approve the transaction before it is finalized."
The due diligence process is underway and, if the parties conclude the purchase, it is expected to take several months to complete the transaction.
The proposed purchase only includes the 155,000-square-foot hospital that opened at 367 Clear Creek Parkway in Lavonia in 2012, not other parts of the Ty Cobb Healthcare System.
"We are looking forward to working with the Ty Cobb staff and medical community to ensure that people in the Lake Hartwell area continue to have access to high quality healthcare close to home," said Don McKenna, St. Mary's President and CEO, in the statement. "We are very excited about this opportunity to expand and enhance St. Mary's mission to be a compassionate and transforming healing presence in our communities."
Bob Snipes, chair of the St. Mary's Board of Directors, also provided comments for the statement.
"St. Mary's and Ty Cobb have worked cooperatively for many years, but during our discussions over the past few months, it has been our pleasure to work even more closely with their board, administrators and medical staff," Snipes said. "We feel there are strong opportunities not only for continuing Ty Cobb's tradition of quality care in these communities, but expanding services to provide even more care locally."
Also in the statement, Ty Cobb Regional Medical Center CEO Greg Hearn commented on the anticipated sale.
"We are extremely pleased that, with the signing of this Letter of Intent, we have taken the next step forward in ensuring that the healthcare mission of Ty Cobb Regional Medical Center continues for decades to come," Hearn said. "Our community needs and deserves quality healthcare, and in today's environment, rural hospitals must be part of a larger system in order to fulfill their mission."
St. Mary's is part of the Trinity Health nationwide system of care.
Founded in 1906, St. Mary's is a fast-growing, non-profit healthcare system that includes 196-bed St. Mary's Hospital in Athens; 25-bed St. Mary's Good Samaritan Hospital near Greensboro; Highland Hills Village retirement community and Center for Alzheimer's and Dementia Care near Watkinsville; regional home healthcare and hospice services; outpatient diagnostic, rehabilitation and wellness center; and an expanding network of compassionate, highly specialized physicians and practices.
According to Ty Cobb Healthcare System Chairman Fort Oglesby, "St. Mary's is one of the most respected healthcare systems in Georgia. We feel they will be a tremendous partner with our community for the future of healthcare in our region."
St. Mary's is recognized by Healthgrades for clinical excellence, patient safety, and as one of America's 100 Best Hospitals for total joint replacement, general surgery, and gastrointestinal care. St. Mary's has received the American Heart Association/American Stroke Association Gold Plus Performance Achievement Award for stroke care five years in a row.
St. Mary's is certified by The Joint Commission in five disease-specific areas of care: advanced primary stroke, advanced inpatient diabetes, heart failure care, total knee replacement, and spine surgery.
In addition, St. Mary's was named Georgia's Large Hospital of the Year in 2006 and 2010, and St. Mary's Good Samaritan Hospital was named Georgia's Small Hospital of the Year in 2014.
Ty Cobb Regional Medical Center is located just off Interstate 85 in Franklin County. (Photo/Rob Moore)
Ty Cobb Regional Medical Center is a 56-bed, 155,000-square-foot hospital located in Lavonia. (Photo/Rob Moore)
http://accesswdun.com/article/2015/2/285663