Join, Follow & Connect
Join Modern Healthcare's LinkedIn group Follow Modern Healthcare on Twitter Join Modern Healthcare's Facebook group Follow Modern Healthcare's Pinterest board Modern Healthcare's Flickr page Modern Healthcare's YouTube Channel Get a Modern Healthcare news feed

 
Comment Buy Reprints Print Article Share on LinkedIn Share on Facebook Share on Twitter Email this page to a colleague
Healthcare Business News
 

Rutherford acquisition deal moves forward


By Beth Kutscher
Posted: January 23, 2013 - 11:00 am ET
Tags:

Rutherford Regional Health System, Rutherfordton, N.C., has finalized the major terms of a takeover proposal that would see the 116-bed hospital become a full member of Mission Health System, Asheville, N.C.

The two systems first disclosed plans to enter into negotiations in September. The newly signed memorandum of understanding allows Rutherford's board of trustees to complete the negotiation and due diligence process, according to a news release.

Rutherford's unanimous decision to partner with four-hospital not-for-profit Mission capped off a search effort that took the better part of last year. The deal will inject Rutherford with new capital, grow its services and help with physician recruiting. It will also allow it to draw on Mission's management expertise and realize economies of scale, according to the release.

The release added that Rutherford, also a not-for-profit, will maintain a “strong, long-term voice in the strategic direction of the health system.”

The ongoing negotiations will hammer out the details on the capital requirements, long-term investment plans and new initiatives that will be part of the deal.

Advertisement | View Media Kit

 


What do you think?

Share your opinion. Send a letter to the Editor or Post a comment below.

Post a comment

Loading Comments Loading comments...

Search ModernHealthcare.com:


 

Switch to the new Modern Healthcare Daily News app

For the best experience of ModernHealthcare.com on your iPad, switch to the new Modern Healthcare app — it's optimized for your device but there is no need to download.