Capella Healthcare has signed an asset purchase agreement for two Hot Springs, Ark., facilities it agreed in April to acquire. Terms of the deal were not disclosed. Capella, which already runs a hospital in the Hot Springs market, will combine its operations with those of Mercy Hospital and Mercy Clinic assuming regulators approve.
“The signed definitive agreement marks the end of due diligence and is the next step in the transaction process. The parties have already begun pursuing customary required regulatory approvals. Mercy’s relationship to the Catholic Church also requires approval from the Vatican, and that process is underway. This final phase is expected to take 60 to 90 days, subject to regulatory and Vatican approval.
“This is an important step for our organizations in an effort to build an integrated health system that will advance healthcare for this region for years to come,” said Michael Wiechart, Capella’s senior vice president and COO.
SEE ALSO: Our previous stories on this and other Capella initiatives