Bon Secours Mercy Health, one of the 20 largest health systems in the nation and the fifth-largest Catholic health system in the US, has signed an asset purchase agreement with affiliates of Community Health Systems, Inc. (CHS) to transition ownership of Southside Regional Medical Center, Southampton Memorial Hospital and Southern Virginia Regional Medical Center to Bon Secours Mercy Health.
When the transaction is complete – likely by the end of the year – the three hospitals will join the ministry’s strong tradition of providing quality, compassionate health care across the region, which will result in a strong service network of care for the communities in southeastern Virginia.
“We are very pleased to have the opportunity to add three strong, dynamic hospitals to our southeast Virginia footprint,” said John Starcher, Bon Secours Mercy Health president and CEO. “Nothing is more important than the health and well-being of the communities and patients we serve, and we look forward to welcoming Southside Regional Medical Center, Southampton Memorial Hospital and Southern Virginia Regional Medical Center into our compassionate ministry. We have a unique opportunity to find synergies and work together to serve others.”
Bon Secours Mercy Health is focused on providing high-quality care to residents across Virginia and beyond. Clinical and operations leaders will work together to ensure that the patient is at the center of all care and services provided.
The three facilities will join the Catholic tradition of Bon Secours Mercy Health, continuing to provide quality care to patients of all faiths and traditions.
The acquisition represents a compelling opportunity to unite the complementary strengths of each facility with the best practices and strong foundation of a regional health system for the benefit of the community. Together, the teams are focused on creating a leading health care system across southeastern Virginia, capable of delivering superior quality and value, achieving economies of scale and enhancing access for growing populations.
In the coming months, both parties will work together to finalize a definitive agreement, obtain applicable approvals and complete integration plans for the coming year. While there is no specific date outlined and no purchase price revealed, both Bon Secours Mercy Health and affiliates of CHS expect to complete this transaction by the end of 2019.
“Bon Secours Mercy Health is strategically focused on how we can best fulfill our Mission and meet the needs of our patients and communities,” said Starcher. “Southeastern Virginia is a very attractive growth market, and we look forward to continuing to invest in the health and well-being of area residents, while ensuring our facilities are places where associates want to work, clinicians want to practice, people seek wellness and communities thrive.”