St. Thomas Health Services, Nashville, and Cumberland Medical Center, Crossville, Tenn., agreed to create a limited liability company to help boost cardiac services at Cumberland.
The new not-for-profit not-for-profit company will be jointly owned by the two partners.
A spokesman for St. Thomas said the partners made a minimal investment at the inception of the company. In the future, the partners will assess capital needs and financing issues as they unfold.
Short-term plans include construction of a medical building at a to-be-named site.
Also, St. Thomas' flagship facility, 525-bed St. Thomas Hospital, a prominent cardiac-care provider, will help Cumberland expand its cardiac services. The spokesman said surveys showed many Crossville cardiac patients were traveling 120 miles to St. Thomas for services.
The deal is expected to close shortly, the hospitals said, because the transaction needs no state regulatory approval.
St. Thomas also is forming a mergerlike partnership with one of Nashville's other not-for-profit giants, 649-bed Baptist Hospital. That deal, announced in early July, is pending.
If it goes through, Baptist may have a stake in the new limited liability company, but at this point it's not clear, a St. Thomas spokesman said.