WILLIAMSON - Rumors that have been making there way around the Tug Valley area for well over one year concerning the possibility of one local not for-profit health care system purchasing another local health-care facility that as of present time, is a for-profit company, was confirmed to be fact on Monday afternoon.
According to information provided by Appalachian Regional Hospital’s (ARH) Executive Public Relations Director, Melissa Cornett, her employer has purchased the Williamson Memorial Hospital, located within the city limits of Williamson, a municipality that depends greatly on the B&O taxes paid to them by the health-care facility. Without those taxes, the city could possibly see themselves in a extremely stressful financial situation which could create the need to stop providing the citizens of Williamson with a paid fire department and a decrease of officers with the police department, among other cuts.
The press release from Cornett tells the basics of the buy-out, and she relayed to the Williamson Daily News that more information regarding this business venture will be released at a later date, explaining that the purchase is is the early stages and there is still much to be done before the transaction is complete. The information is signed by Joe Grossman, President and CEO of ARH and reads as follows:
Joe Grossman, President and CEO of the Appalachian Regional Health-care system.
Appalachian Regional Health-care has signed a definitive agreement to acquire Williamson Memorial Hospital from a subsidiary of Health Management Associates, its current owner. The transaction is expected to be completed in February 2014.
Our purpose in acquiring Williamson Memorial is to ensure that health-care in the Tug Valley is provided at the highest level of quality as well as efficiently as possible. This will ensure that our community has full access to the best health-care services and that our providers have the resources to continue the delivery of high quality care to our community. In today’s health-care environment, providers must endlessly strive to deliver care in new and smarter ways in response to changes in the industry. This acquisition helps us accomplish that by allowing Williamson ARH to build on its strategic plan, maintain its mission, and continually improve upon its quality of care, financial position, services, and facilities.
We count ourselves fortunate that we have such a high quality health-care community in the Tug Valley, from physicians to nurses to other caregivers and staff – whether they are associated with Williamson Memorial Hospital or Williamson ARH Hospital. We look forward to continuing in our mission of providing the best health-care possible to the Tug Valley community.
Further information on this buy-out will be published in a future edition of the Williamson Daily News and will include a statement from Darrin McCormick, the Mayor of Williamson, along with other council members and business leaders concerning the effects this purchase will have on their city.