Board OKs $710M sale of Memorial University Medical Center (Savannah) to HCA
The board of the parent corporation of Memorial University Medical Center on Wednesday evening unanimously agreed to a proposal from the Hospital Corporation of America to sign a letter of intent to purchase the assets of the hospital and the Chatham County Hospital Authority in a deal valued at $710 million.
“This will essentially be a sale of the hospital,” said J. Curtis Lewis III, board chair of Memorial Health. “I think it’s a very positive thing for the community.”
He praised HCA, a Nashville, Tenn.-based for-profit health care provider, calling them “the gold standard.”
HCA will now have a 60-day period to conduct due diligence, Lewis said, adding, “Our next step is to keep the place going.”