Rockdale Medical Center is Sold

By The Atlanta Journal-Constitution

Aug. 31–Rockdale County’s only hospital will be sold to Houston-based Signature Hospital Corp. for $90 million, pending state approval.

The boards of the Rockdale Medical Center and the Hospital Authority of Rockdale County announced the planned sale this week.

They said the deal comes after a lengthy review of how to overcome financial issues at the 138-bed Rockdale Medical Center.

The joint announcement said the center “must have an infusion of capital to secure the longterm financial stability needed to deliver excellent patient care. With the purchase of the hospital by Signature, the hospital’s debt will be erased and the Rockdale community will benefit from new tax revenue.”

The deal includes a commitment by Signature to spend at least $32 million over the next five years on facility improvements and expanded services, according to the announcement.

Signature also will commit $4 million to a community healthcare fund.

The Georgia Attorney General must review and approve the sale.

—–

To see more of The Atlanta Journal-Constitution, or to subscribe to the newspaper, go to http://www.ajc.com.

Copyright (c) 2007, The Atlanta Journal-Constitution

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.