Piedmont Healthcare buys Cartersville Medical Center as part of a nearly $1 billion deal with HCA; includes 3 other hospitals. No updates on Redmond/AdventHealth report.

Piedmont Healthcare buys Cartersville Medical Center as part of a nearly $1 billion deal with HCA; includes 3 other hospitals. No updates on Redmond/AdventHealth report.

In context: For weeks, rumors have swirled about pending changes in HCA’s hospitals in Northwest Georgia. The rumors: Piedmont buys Cartersville Medical Center; Advent Health buys Redmond Regional. The Piedmont/Cartersville Medical rumor moved into the official column Monday as Piedmont also picks up several other HCA properties in Georgia. No word on the Redmond report; AdventHealth already owns the former Gordon Hospital. And don’t forget: Due this summer is the finale of the Floyd Medical Center courtship by North Carolina-based Atrium. 

What to know about Cartersville Medical Center (2019 report from HCA):

  • Includes 119 beds, 615 member staff.
  • More than 7,933 patient admissions
  • More than 58,000 annual ER visits
  • Given an A in the latest Leapfrog patient safety analysis.
  • Payroll: $53.5 million.
  • Taxes: $3.76 million.
  • Capital investment: $6.6 million.

Piedmont media release:  Piedmont Healthcare has signed a purchase agreement with HCA Healthcare for the acquisition of several Georgia hospitals. Pending regulatory approval, Piedmont will acquire Eastside Medical Center in Snellville; Coliseum Medical Centers and Coliseum Northside, both in Macon; and Cartersville Medical Center in Cartersville. The organizations are targeting a closing date of July 31, 2021.

“This is an exciting opportunity for Piedmont,” said Kevin Brown, president and CEO of Piedmont Healthcare. “HCA Healthcare has instilled a high standard of care into these facilities, and we are proud that they have trusted Piedmont to continue this legacy.

“We are committed to making a positive difference in every life we touch, and this means providing high-quality care that is seamlessly orchestrated. We look forward to further enhancing care across Georgia.”

Quality, safety and service are the center of Piedmont’s strategic focus. For several years, this priority has been recognized publicly by the number of A’s Piedmont hospitals have been awarded by the Leapfrog Group. Since spring 2018, Piedmont has had as many or more hospitals with A’s than any other system in Georgia. HCA Healthcare is the only system in Georgia to match Piedmont’s A’s. In fall 2020, included in HCA Healthcare’s A’s were Coliseum Medical Centers, Coliseum Northside and Cartersville Medical Center. These three hospitals all remained A’s in the spring 2021 Report, released last week.

“As a not-for-profit organization, we return our profits to the communities we serve by reinvesting in the care provided in those communities,” continued Brown. “Healthcare is more than just hospitals. Ambulatory settings like primary care, urgent care and surgery centers are an important part of the care delivery network. Connecting all the pieces as well as having access to appropriate acute care when it is needed is key to creating a seamless experience for our patients. This is how we plan to invest in these communities.”

Cartersville Medical Center is a 119-bed acute care hospital that includes a 43-bed emergency department, with a level III trauma center.

In addition, Piedmont will become a partner in a joint venture for 12 urgent and family care clinics.

Piedmont Healthcare is a not-for-profit system of 11 hospitals, 35 Piedmont Urgent Care centers, 25 QuickCare locations, and a clinically integrated network of over 2,600 employed and independent physicians, caring for patients and communities across Georgia.

For more information about Piedmont Healthcare, visit piedmont.org.

HCA media release: HCA Healthcare, Inc.  one of the nation’s leading healthcare providers, today announced the signing of a definitive agreement to sell four of its hospitals in Georgia for approximately $950 million.

HCA Healthcare has agreed to sell the following hospitals in north Georgia and Macon to Piedmont Healthcare, a not-for-profit health system headquartered in Atlanta, Georgia:

  • Eastside Medical Center, a 310 bed hospital in Snellville, Georgia
  • Cartersville Medical Center, a 119 bed hospital in Cartersville, Georgia
  • Coliseum Health System, which includes two acute care hospitals (310 bed Coliseum Medical Centers and 103 bed Coliseum Northside) as well as Coliseum Center for Behavioral Health, a 40 bed inpatient behavioral health facility in Macon, Georgia

The commitment of HCA Healthcare colleagues at these hospitals has helped the facilities achieve national recognition for quality patient care, even though these facilities were not able to fully benefit from a broader HCA Healthcare presence in their areas. Given Piedmont Healthcare’s history of serving the region’s health care needs, the affiliation will better position the hospitals to continue providing excellent care to their patients. At the same time, the transaction provides strategic value to HCA Healthcare by increasing financial flexibility for investments in ongoing and future initiatives in core markets.

HCA Healthcare, which has a long history of caring for communities in Georgia, currently operates five other hospitals in the state. Additionally, HCA Healthcare recently expanded its network of care in southeast Georgia with the purchase of Meadows Regional Hospital in Vidalia, Georgia from Meadows Health Alliance.

Citigroup is serving as financial advisor to HCA Healthcare. The transaction is subject to customary regulatory approvals and expected to close in the third quarter of 2021.

 

 


THURSDAY

Hometown Headlines continues to check on the rumored sale of the two HCA-owned hospitals in our area, Redmond Regional Medical Center (possibly to Advent Health) and Cartersville Medical Center (perhaps to Piedmont Healthcare).

Here’s the latest comment from Cartersville Medical Center’s Chris Mosley, CEO:

“We have an over 35-year history of serving Cartersville/Bartow County and surrounding communities, so it’s not uncommon for us to be involved in discussions about healthcare in this area. However, it is important to remember that conversations happen all the time in healthcare. Sometimes they lead to something, and many times they do not. Therefore, we typically don’t talk about discussions unless or until we have something to announce.”

We’re awaiting a response from Piedmont as well. In the meantime, Georgia Health News — while doing a separate interview — asked about the CMC/Piedmont rumors.

“Piedmont soon could be making more news. Speculation among industry officials has linked the Atlanta-based system to possible purchases of some HCA Healthcare hospitals in Georgia. Officials with Piedmont declined to comment Thursday on the potential for acquisitions.”


APRIL 28

In recent weeks, the rumors have crossed the many circles of Northwest Georgia’s medical community. From doctors to staffers to vendors and rivals, the exchanges all centered on a possible sale of Redmond Regional Medical Center, the adjoining surgical center and perhaps Cartersville Medical Center as well.

The potential buyers have been both from inside and outside the state. The latest money is on the Advent Health system, parent of AdventHealth Gordon (formerly Gordon Hospital). A late player in the mix was said to be Piedmont in Atlanta but perhaps for other HCA properties in Georgia  (Redmond and Cartersville are part of HCA).

The speculation has intensified as North Carolina-based Atrium Health continues steps to eventually merge the Floyd Healthcare System — Rome, Cedartown and Centre hospitals in addition to medical offices — into one entity. The deal should close this summer pending final review of the Attorney General’s office. Click background. As part of that deal, Atrium has pledged more than $650 million to be invested in Northwest Georgia over the next 11 years. That’s in addition to $80 million for Floyd Healthcare Foundation to address health disparities, indigent care, health needs and social determinants in the region.

As of Wednesday,  Redmond’s John Quinlivan, president and CEO, has no comment on any potential moves by HCA of Nashville, parent company of both the Rome and Cartersville hospitals. But that hasn’t stopped continuing reports from Rome, Rockmart and Cartersville about a pendnig deal. One belief is the answers will come Friday.

There is another camp, in Rome, downplaying the rumors, questioning the source behind them. Also odd: The lack of media buzz in the two towns where HCA and Advent are based at this point.

Why it matters: HCA data for 2019 reports that Redmond Regional had more than $83 million in salary and benefits paid with $4.3 million in taxes and capital improvements of $14.6 million. Background. Additional details below. Plus: Redmond is a huge contributor to community events, from February’s heart month celebrate, the Heart of the Community awards, sponsorships, ambulance service to Floyd, Polk and Chattooga counties and, more recently, in COVID care and safety protocol.

What they’re saying: Wednesday afternoon, the Rome News-Tribune posted a story about the potential Redmond/Advent deal. In it, Executive Editor John Bailey quotes Dave Smith, a consultant with Kearny Street Management, who says the COVID-19 pandemic may have forced “some repositioning of hospitals.’’ Another factor, Smith says, could be the Floyd/Atrium deal. “AdventHealth is huge, and is pretty well run,’’ he tells the RNT. Please click here for the full story.

About Redmond Regional:

  • Opened in 1972 at Redmond Park Hospital.
  • Nationally recognized as a top cardiac care center.
  • Includes 230 beds, 230 affiliated physicians and 1,300-plus employees.
  • More than 11,500 patient admissions
  • More than 42,000 annual ER visits
  • Given an A in the latest Leapfrog patient safety analysis.

About Advent Health

  • From the website: “Our Christian mission, shared vision, common values and focus on whole-person health is our commitment to making communities healthier …”
  • Size: Nearly 50 hospitals in nine states, including AdventHealth Gordon (formerly Gordon Hospital).
  • Employment: More than 80,000.
  • Based in Altamonte Springs, outside Orlando.
  • Founded in 1973.

 

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