University Hospital to Purchase Trinity for $16M
Friday, May 26th, 2017
Officials completed another formal step toward bringing Trinity Hospital of Augusta into the University Health Care System of hospitals, physician practices and specialty services at more than 10 locations in Georgia and South Carolina.
At the regular meeting of the Richmond County Hospital Authority and University Health’s Boards, the Authority approved the asset purchase agreement in an open meeting as required by Georgia law, after which the University Health Services Inc. Board voted unanimously to approve funding for the purchase.
“The purchase of Trinity allows University to preserve a valued community asset with an excellent reputation of caring for patients, while giving us the additional space to meet the demand for University services," explained James R. Davis, University Health Care System President and Chief Executive Officer.
University's Walton Way campus is nearing the limits at which additional capacity can be cost effectively added, Mr. Davis said. The Trinity campus provides the land and building space to accommodate University's space needs into the future.
Trinity Hospital of Augusta is a 231-bed facility with inpatient, outpatient, diagnostic, surgical and emergency medical care that has served the Augusta community for 65 years. They are among many hospitals struggling financially because of a declining census, however, they still have a lot to offer as part of a larger, efficient, system like University with its growing medical staff and proven track record of safety, quality and consumer preference.
“As an organization, we felt compelled to ensure Trinity’s success even as the hospital managed the financial pressure of our current health care landscape,” Mr. Davis said. “This is a win for everyone involved, especially our patients and this community.”
On March 30, the Hospital Authority entered into an asset purchase agreement with affiliates of Quorum Health Corporation to acquire Trinity Hospital of Augusta. Quorum Health Corporation is based in Brentwood, Tenn. Transition teams have been working together since that time. The purchase, subject to customary approvals and closing conditions, is expected to be completed June 30.
“Our integration teams are working diligently to make this transition as seamless as possible,” Mr. Davis said. “We look forward to this addition allowing us to increase our continuum of care and further accomplish our mission of improving the health of those we serve. We plan to take advantage of the strengths of each organization and capitalize on them to enhance services where and how they benefit the community the most.”