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Stones River Hospital
324 Doolittle Rd. Woodbury, TN 37190
615-563-4001
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Physicians Specialty Clinic
615-563-7216
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Riverside Center
615-563-4062
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Medical Nurses' Station 615-563-7260
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Primary Care
615-563-7515
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Human Resources
615-563-7202 |
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| News Date |
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12/5/2011
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Saint Thomas Health, Capella Healthcare Agree to Create Innovative Equity Partnership |
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7/26/2011
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Capella Healthcare Signs Definitive Purchase Agreement with Cannon County Hospital, LLC |
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12/5/2011
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Nashville, Tenn. (December 5, 2011) Capella Healthcare and Saint Thomas Health have signed a Letter of Intent (LOI) to create an innovative venture that will improve healthcare throughout Middle Tennessee and Southern Kentucky, officials announced today. Based in Nashville, Saint Thomas Health includes five hospitals affiliated with Ascension Health Ministry, the largest Catholic system and the largest non-profit in the United States. Capella Healthcare, based in Franklin, operates 15 hospitals in seven states, including five in Tennessee.
The pending partnership will result in the joint ownership and operation of Capella s four Middle Tennessee hospitals and potentially additional healthcare facilities in a 60-county area of Middle Tennessee and Southern Kentucky. Capella hospitals included in the joint venture are River Park Hospital in McMinnville, White County Community Hospital in Sparta, DeKalb Community Hospital in Smithville and Stones River Hospital in Woodbury, all in Tennessee. These hospitals will operate as part of the Saint Thomas Health Network, which will hold an equity interest. In addition, Saint Thomas Health will become the tertiary care partner for the hospitals within the new venture.
This is a landmark partnership for us and the communities we serve, said Mike Schatzlein, M.D. Saint Thomas Health president and chief executive officer. We are partnering with Capella Healthcare and the outstanding physicians in the communities of their Middle Tennessee hospitals to expand and enhance services in the communities they serve. We look forward to providing support for the expansion of cardiac, neurosciences and other specialty services, as well as collaborate on strategies for the use of innovative technology and clinical integration.
Capella will be the managing member and the majority partner in the new venture, and under the agreement, Capella will be the exclusive development partner for Saint Thomas Health across Middle Tennessee and Southern Kentucky.
Capella Healthcare CEO Dan Slipkovich stated, Partnering with Saint Thomas Health, which is nationally recognized for its quality of care and innovative strategy, positions our Middle Tennessee hospitals for greater success as we seek to further expand services. This venture also provides a significant opportunity for Capella and Saint Thomas Health to jointly partner with additional hospitals that recognize the value of these kinds of partnerships, especially as accountable care and health reform continue to evolve. Our two organizations share a commitment to providing the highest quality of care for the individuals and communities we serve, and look forward to leveraging our strengths to expand our services.
The LOI was formally signed today by Dr. Schatzlein and Slipkovich at the Saint Thomas Health Network Service Center. Officials expect the new partnership to begin operations on or before March 1, 2012, subject to customary closing conditions, including due diligence, further negotiations and execution of definitive agreements.
About Capella Healthcare
Capella Healthcare partners with communities to build strong local healthcare systems that are known for quality patient care. Based in Franklin, Tenn., Capella owns and/or operates 15 general acute-care hospitals in seven states. With the philosophy that all healthcare is local, Capella collaborates with each hospital s medical staff, board and community leadership to take care to the next level. The company has access to significant leadership and financial resources, reinvesting in its family of hospitals to strengthen and expand services and facilities. For more information, visit www.CapellaHealthcare.com
About Saint Thomas Health
Saint Thomas Health is the market share leader in Middle Tennessee with 6,500 associates serving the region. Saint Thomas Health s regional health system consists of five hospitals Baptist and Saint Thomas Hospitals and The Hospital for Spinal Surgery in Nashville, Middle Tennessee Medical Center in Murfreesboro and Hickman Community Hospital in Centerville and a comprehensive network of affiliated joint ventures in diagnostics, cardiac services and ambulatory surgery as well as medical practices, clinic and rehabilitation facilities. Saint Thomas Health is a member of Ascension Health, a Catholic organization that is the largest not-for-profit health system in the United States. For more information, visit www.sths.com
Certain statements contained in this release may constitute forward-looking statements that involve risks and uncertainties. These forward-looking statements include all statements that are not historical statements of fact and those statements regarding Capella Healthcare s or management s intent, belief or expectations, including statements about ultimate creation of this proposed joint venture and future operational plans of the proposed joint venture. Actual future events or results may differ materially from these statements. No assurance can be given that the parties will enter into a definitive agreement or that the proposed joint venture will be formed. Readers also should refer to the documents filed by Capella Healthcare, Inc. with the Securities and Exchange Commission, specifically the most recent filings which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including execution of growth, acquisition and business strategies. These and other applicable risks are summarized under the caption Risk Factors in Capella Healthcare s Securities and Exchange Commission filings. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
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7/26/2011
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FRANKLIN, Tennessee (June 22, 2011) – Capella Healthcare today announced the execution of a definitive Purchase Agreement for a subsidiary that owns a majority interest in White County Community Hospital, LLC, (WCCH) to acquire a 60% ownership interest in Cannon County Hospital, LLC, (CCH) which owns and operates DeKalb Community Hospital (DCH) in Smithville, TN, and Stones River Hospital (SRH) in Woodbury, TN. The transaction is subject to customary federal and state regulatory approvals.
Physician investors own the balance of CCH’s equity. The minority owners of CCH and WCCH will contribute their ownership interests in the respective joint ventures to a new entity, which, other than Capella is the only member of these joint ventures.
Following the closing of the transaction, which is planned for June 30, Capella Healthcare will manage all three hospitals pursuant to management agreements. Bill Little, who has served as CEO for the two CCH facilities since July 2009, will assume responsibility for all three hospitals as Market CEO. Current CCH Chief Financial Officer Sarah Clark will become Market CFO for the new entity.
“We look forward to welcoming these outstanding providers to our growing family of hospitals,” said Dan Slipkovich, CEO of Capella Healthcare. “These two hospitals have a rich history of serving their communities and working collaboratively to provide high quality care and excellent service. Along with our physician partners, we look forward to continuing to expand services throughout the region as we build upon this outstanding network of providers to meet the needs of the entire Upper Cumberland Plateau.”
“We are excited about our opportunity to collaborate with Capella and jointly help to lead in molding the future development of healthcare in the Upper Cumberland area,” said Hugh Don Cripps, M.D., a member of the Cannon County Hospital Board and one of the physician partners. “We are blessed to be able to continue to be led so ably by CEO Bill Little and CFO Sarah Clark.”
The addition of these facilities expands Capella’s Tennessee presence to five hospitals. In addition to White County Community Hospital in Sparta, Capella also owns River Park Hospital in McMinnville and Grandview Medical Center in Jasper.
About Cannon County Hospital, LLC
Situated in the heart of the state approximately halfway between Chattanooga and Nashville, the two CCH hospitals have worked collaboratively since both became owned by the same group of investors, primarily physicians, in July 2006. There are approximately 80 physicians on the combined medical staffs, representing nearly every medical specialty.
Established in 1980, SRH is a 60-bed hospital accredited by The Joint Commission. Located at 324 Doolittle Road in Woodbury, the hospital provides 24-hour emergency care as well as surgical procedures, same day outpatient services, cardiac rehabilitation services, and comprehensive imaging services. Through the Riverside Center, a full range of mental health services for older adults is available, with intensive inpatient services at a 14-bed gero-psychiatric unit at the hospital and outpatient care at a separate facility in Murfreesboro.
Established in 1969, DCH is a 71-bed hospital also accredited by The Joint Commission. It is located at 520 West Main Street in Smithville, offering 24-hour emergency services and comprehensive diagnostic, medical, surgical and rehabilitative services. The hospital has enjoyed a long history of medical excellence having been named one of the 100 Top Hospitals® in America by Thomson Reuters (formerly Solucient) for five years.
About White County Community Hospital
Founded in 1929 by Dr. E.B. Clark, White County Community Hospital is a 60-bed facility accredited by The Joint Commission and certified by the American Heart Association as a “Get with the Guidelines” hospital. Located at 401 Sewell Road in Sparta, the hospital provides a full range of medical services, including 24-hour emergency services and comprehensive diagnostic, medical, surgical and rehabilitative services as well as a gero-psychiatric unit.
About Capella Healthcare
Capella Healthcare partners with communities to build strong local healthcare systems that are known for quality patient care and exceptional service. Based in Franklin, Tenn., Capella owns and/or operates 13 general acute-care hospitals in seven states. With the philosophy that all healthcare is local, Capella collaborates with each hospital’s medical staff, board and community leadership to take care to the next level. The company has access to significant leadership and financial resources, reinvesting 100% of net cash flow into its family of hospitals to strengthen and expand services and facilities. For more information, visit the company’s website at www.CapellaHealthcare.com
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