Specialty Hospitals of America, Portsmouth, N.H., has reached a tentative agreement to acquire struggling 303-bed Greater Southeast Community Hospital in Washington from Envision Hospital Corp., Scottsdale, Ariz.
The deal, reportedly valued at about $31.5 million plus another $27.5 million the city will use to pay off the hospitals back debt, is contingent on a due diligence process but expected to close in a little over 60 days.
Specialty Hospitals Chairman James Rappaport said in a written statement that the company would parlay the hospitals current campus into a hybrid site that includes a short-term acute-care hospital, a new skilled-nursing facility, primary healthcare, imaging and preventive-care services. The site will also include an 80-bed long-term-care section.
Earlier this year, the hospital failed a series of patient-safety and quality inspections, which led to the Joint Commission revoking its accreditation. In late July, however, the Joint Commission restored its full accreditation.
For too long, Greater Southeast Community Hospital has been synonymous with turmoil, said District Councilman David Catania, chairman of the committee on health, in a written statement. This announcement represents an opportunity to close this chapter in our history. -- by Matthew DoBias
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