2021: New names, new hospital management
Two of the largest business deals in Northwest Georgia history occurred this year — and both of them involved local hospitals.
Workers outside the hospital formerly known as Redmond Regional Medical Center installed temporary signs with the hospital’s new moniker — AdventHealth Redmond.
That change came by way of the $635 million sale of the hospital from HCA to AdventHealth. Another change came by way of the purchase of the parent company of Floyd Medical Center, as well as Polk Medical Center and Cherokee Medical Center, by Atrium Health for $650 million in July. While all three hospitals’ names remain the same they are operated by Atrium Health Floyd.
Both hospitals were competitive and profitable at the time of their respective changes in management, but these acquisitions didn’t happen in a vacuum. There were more than two dozen health system mergers and acquisitions during 2021, including Piedmont Cartersville Medical Center.
The Redmond deal includes the hospital on Redmond Road along with Redmond’s related physician clinics, outpatient services and all existing equity interests. Floyd’s deal is a little different. The hospitals themselves are owned by individual hospital authorities.
Up to this point each hospital has cornered specific markets within the region. Floyd is the obstetrics hospital and Redmond is the heart hospital. There had been attempted forays by each into the other’s areas of concentration but despite protracted court battles none had come to the point of fruition as of 2021.
Overall, the message coming out of each sale has been positive.
“Redmond Regional Medical Center is a high-performing hospital with long-tenured leaders, team members and physicians who care deeply about this community,” said Mike Murrill, the CEO of AdventHealth Floyd, Gordon and Murray, in October when the deal was sealed. “I look forward to building on the facility’s legacy of clinical excellence, being active partners in the community and working with this team to care for our neighbors for years to come.”
Another positive message was voiced by the Floyd leadership — ready to hit the ground running.
“Now we’re off to the races,” said Kurt Stuenkel, Floyd CEO, after the acquisition in July. “We’ve already begun some of the things that we planned to utilize in this stream of capital commitment. Our helicopter landing pad, continued renovation of the Family Birth Center — all of those things we’re able to bring more quickly to fruition now.”