Dive Brief:
- St. Mary's Health Care System has acquired Ty Cobb Regional Medical Center located in Lavonia, GA and has renamed it St. Mary's Sacred Heart Hospital. St. Mary's is part of Trinity Health, one of the largest Catholic healthcare systems in the U.S.
- According to the hospital's press release, St. Mary’s and Trinity are paying $12.9 million for the 56-bed hospital as well as its Certificate of Need, grounds and specific related services such as Clear Creek OB/GYN, Healthworks and the wellness center.
- The Ty Cobb Healthcare System is keeping the Gables, Home Base Health Services, LifeSprings, the Ty Cobb Museum and rental properties.
Dive Insight:
It appears to be a good deal for St. Mary's, which will not take on any outstanding debt from the hospital's recent $62-million construction. The former Ty Cobb RMC had only opened in 2012.
St. Mary's Vice President of Human Resources and Support Services, Jeff English, is now serving as the hospital’s interim president and a new board of directors has been established.
"This is a banner day for Franklin, Hart and Stephens counties, and for all of Northeast Georgia," said Diane Toney, chair of the new board of directors, in a prepared statement. "St. Mary's is one of the most highly respected, multi-hospital systems in Georgia. They bring unprecedented levels of quality, best practices, supply system leverage and financial stability to healthcare in our community. Our hospital is in good hands."
Greg Hearn, former CEO of Ty Cobb RMC, will continue to serve as CEO of the remaining Ty Cobb Healthcare System.