Source: Becker’s Hospital Review
Louisville, Ky.-based Baptist Health’s acquisition of Hardin Memorial Health in Elizabethtown, Ky., will be finalized by Sept. 1, about three months earlier than previously expected.
The asset purchase agreement spells out $361.4 million in payments and investments. Baptist said it will invest $150 million in Hardin Memorial Health in the first five years to build new facilities, recruit physicians and upgrade IT and equipment.
After the deal closes, Hardin Memorial Health will have an 11-member administrative board, with at least six members from Hardin County. The hospital’s president and other senior leaders will remain the same.
Hardin Memorial Health will be the ninth hospital in the Baptist Health system. After the deal is finalized, the hospital’s name will be changed to Baptist Health Hardin.