Piedmont Healthcare, Atlanta, announced it has completed the purchase of Newnan (Ga.) Hospital. With all regulatory reviews completed, the hospital will become Piedmont Newnan Hospital.
This is a day weve anxiously awaited for a long time, said R. Timothy Stack, president and chief executive officer of Piedmont Healthcare. We are proud to add Piedmont Newnan Hospital to our healthcare family and look forward to a future of great opportunity and promise for healthcare in Coweta County.
As part of the deal, Piedmont will provide initial capital investments to support existing services, and will pursue state approval to build a new hospital complex. It will also repay the $43 million bond debt of 271-bed Newnan Hospital, officials said in a statement. -- by Michael Romano