FMC board to meet Monday; Atrium deal not on the agenda

The monthly joint meeting of the Hospital Authority of Floyd County, Floyd Healthcare Management and Floyd Healthcare Resources will meet Monday, but a pending merger with Atrium Healthcare isn’t on the agenda.

In an earlier interview FMC President and CEO Kurt Stuenkel said they were expecting to have the deal approved by the board and ready for submission to the state Attorney General’s office in January.

As the month gets near the end, that timeline may have been pushed back somewhat.

The massive deal, one of the largest if not the largest in Floyd County’s history, includes close to $650 million dollars flowing from Atrium Health into the Floyd system over the next 11 years.

Floyd doesn’t anticipate any objections from the AG’s office. Stuenkel said earlier the not for profit hospital systems can demonstrate a benefit to the community.

Once the deal is done, the iconic green Floyd logo will change. The new name will be Atrium Health Floyd and the corporate color will transition from green to the Atrium teal.

One of the major aspects of the deal as far as taxpayers are concerned is the elimination of Floyd County as the guarantor for more than $100 million in bonded indebtedness at FMC.

Stuenkel has said there will still be a lot of local control regarding the hospitals in Floyd, Polk and Cherokee County, Ala. Those local governing bodies will continue to function although decisions will be coordinated with Atrium officials in Charlotte, N.C.