In a deal valued at more than $50 million, seven surgeons belonging to the Hughston Clinic in Columbus, Ga., purchased 90% of the Summit Hospital in Phenix City, Ala., from Ameris Health Systems, a Nashville-based manager, developer and operator of three small acute-care facilities in Arkansas and Georgia and a geriatric psychiatric facility in Mississippi.
The facility was valued at $47.7 million, but when long-term leases on large-ticket equipment items and assumed debt were added, the total purchase price equaled $53 million, according to Ameris President and Chief Operating Officer Robert Bauer, who added that the hospital was licensed for 70 beds but was staffed for only about 50 at the time of the sale last month.
The new owners renamed the facility Jack Hughston Memorial Hospital in honor of their clinics founder. The hospital, which has a paperless record system, opened in August 2006 (Premium access required) and replaced 114-bed Phenix Regional Hospital. -- by Andis Robeznieks