The Standard Journal

Redmond hospital sale is finalized

The AdventHeal­th deal includes the 230-bed hospital along with Redmond’s related physician clinics, outpatient services and all existing equity interests.

- By John Bailey

The $635 million sale of Redmond Regional Medical Center to AdventHeal­th, announced in May was finalized as of midnight last night. AdventHeal­th plans to rename the facility AdventHeal­th Redmond in January 2022.

“Redmond Regional Medical Center is a highperfor­ming hospital with long-tenured leaders, team members and physicians who care deeply about this community,” said Mike Murrill, CEO at the 69bed AdventHeal­th Gordon and now the CEO for Redmond. “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.”

The deal includes the 230-bed hospital on Redmond Road along with Redmond’s related physician clinics, outpatient services and all existing equity interests.

AdventHeal­th is a faithbased hospital system headquarte­red in Florida. It operates more than 40 hospital facilities spread across Colorado, Missouri, Texas, Illinois, Wisconsin, Kansas, Florida, Georgia, Kentucky and North Carolina. Locally, AdventHeal­th operates hospitals in Calhoun and Chatsworth.

“We are blessed to have the opportunit­y to serve this community and look forward to offering wholeperso­n care to more people through this outstandin­g facility,” said Terry Shaw, president/CEO for AdventHeal­th.

Regional, national access

Murrill will also become president of the regional alignment for AdventHeal­th.

His region will include the 42-bed Murray County hospital, and two short-term acute care facilities — AdventHeal­th Hendersonv­ille near Asheville, with 109 beds and the 49-bed AdventHeal­th Manchester in Kentucky.

A concern to government and school leaders in Rome and Floyd County is what the sale will mean to the tax base, since AdventHeal­th is a nonprofit.

Redmond initiative­s such as the Heart of the Community program are expected to continue under AdventHeal­th. Funds from that annual awards event each February have been pumped back into the community in a variety of ways.

The hospital has purchased defibrilla­tor units for public buildings and exercise equipment for fitness stations along the trail through Ridge Ferry Park. A guest house for families of critically ill patients was constructe­d on the Redmond campus thanks to the Heart of the Community program.

The HCA business model has focused in recent years on its major metropolit­an hospitals with the idea of being the No. 1 or No. 2 provider in those markets. Nowformer Redmond CEO John Quinlivan said the Rome market has never really fit that model.

“So it made perfect sense for HCA to sell Redmond, and I think it makes perfect sense for Advent to buy Redmond,” Quinlivan said earlier. “They want to expand the services they’re offering and will continue to build on the great foundation that HCA has laid here in Rome with this hospital.”

In the past, Redmond has been partnered through HCA with Bartow County’s hospital. In this round of deals, Cartersvil­le Medical Center was spun off to Piedmont Healthcare System of Atlanta.

“Now we’ll be partnered with Gordon under Advent,” Quinlivan said. “Gordon is slightly smaller than Cartersvil­le but if you look at the services they offer, we’re fairly similar.”

Regulatory approval

In a May announceme­nt, officials with AdventHeal­th and Redmond’s parent company Hospital Corporatio­n of America indicated they expected it to be finalized by the end of August.

But President Joe Biden issued a July 9 executive order directing the Federal Trade Commission and Department of Justice to review and revise their healthcare merger guidelines to ensure that patients are not harmed.

That deal was given regulatory approval several weeks ago and the sale closed at midnight on Thursday.

This year there have been more than two dozen health system mergers and acquisitio­ns, including the Floyd Medical Center merger with Atrium Health out of North Carolina.

 ?? ?? John Quinlivan
John Quinlivan
 ?? ?? Mike Murrill
Mike Murrill

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