Piedmont and Henry Medical finalize deal Atlanta Journal Constitution
The 215-bed Stockbridge hospital will become a subsidiary of Piedmont Healthcare. Piedmont will lease the hospital's facilities and take over day-to-day operations, with oversight by a newly constituted board of directors for Henry Medical Center. Henry County community members and doctors will make up a majority of the board, but Piedmont executives will also serve on it. The facility is owned by the Hospital Authority of Henry County.
Piedmont is expected to take over in January after final regulatory hurdles are cleared.
Under the plan, Piedmont will provide care to uninsured patients and relieve Henry's county government of its obligation to pay $6 million a year for indigent care. Piedmont will also guarantee existing bond debt, make capital investments and develop a plan to expand clinical services.
The deal was prompted by years of financial losses at Henry Medical Center. The partnership is also part of a trend of consolidation in Atlanta's hospital market.
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