Sale of SRMC, two other Va. hospitals to Bon Secours complete

By: Michael Campbell | Twitter: @itsthesoup
Posted: January 20, 2020 | 1:45 p.m.

VIRGINIA – Southside Regional Medical Center and two other hospitals in Southside Virginia are now formally a part of the Bon Secours Mercy Health system as the sale of the trio of hospitals has concluded, allowing them to transition fully to their new owners.

In a statement last week, officials with Bon Secours confirmed the sale of SRMC, Southampton Memorial Hospital in Franklin, and Southern Virginia Regional Medical Center in Emporia from former owners Community Health Systems, Inc. to Bon Secours Mercy Health had been completed as of January 1, roughly two months after the news broke that Bon Secours was in the market to buy the hospitals.

“Today, in celebrations at each hospital, we welcome Southside Regional Medical Center, Southampton Memorial Hospital and Southern Virginia Regional Medical Center into our compassionate ministry,” said John Starcher, Bon Secours Mercy Health president and CEO. “Southeastern Virginia is a rapidly growing area, and we look forward to continuing to invest in the health and well-being of area residents, while ensuring our facilities are places where associates want to work, clinicians want to practice, people seek wellness and communities thrive.”

According to the health system, leaders on both the clinical and operations side have worked through the fall to make the transition from CHS to Bon Secours Mercy Health as seamless as possible, noting all three hospitals will “transition to our faith-based ministry and become Catholic hospitals, following ethical and religious directives and guidelines” while providing “quality compassionate care to patients of all faiths and traditions.”

The acquisitions come just over a year after Bon Secours Health System and Mercy Health merged to become one of the country’s largest health systems made up of 60,000 employees and over 1,000 sites of care in the United States and across the Atlantic Ocean in Ireland, including 48 hospitals, with much of their American footprint found in Ohio and Kentucky.

“I am excited Southside Regional Medical Center and Southern Virginia Regional Medical Center have joined the Richmond market,” said Faraaz Yousuf, president of Bon Secours Richmond market. “Our ministry is known for its ability to sustain and enhance medical services in a variety of communities, and I look forward to finding synergies and working with our new associates to serve the communities of Petersburg and Emporia, Virginia.”

At the time of the sale’s announcement in their third-quarter earnings report, CHS announced they had completed nearly a dozen hospital divestitures during the first nine months of 2019, adding that they are continuing to “[pursue] additional interests for sale transactions, which are currently in various stages of negotiation with potential buyers” and CHS “continues to receive interest from potential acquirers for certain of its hospitals.”

“We believe these investments, along with recent divestitures and ongoing operating efficiency initiatives, have positioned the Company for continued improved performance,” Wayne T. Smith, chairman, and chief executive officer of Community Health Systems said in their earnings report. “As we move forward, we expect a good finish to this year and believe we are well-positioned to deliver a strong performance in 2020.”

With the sale of the three hospitals, CHS no longer has a presence in Virginia, with the company operating just over 100 hospitals across 18 states, spanning as far north as Pennsylvania, south through the Gulf Coast and southwestern United States, and the country’s far northern reaches in Alaska. Florida has the most CHS-owned medical facilities in the company’s footprint at 16.

At the time of the sale’s announcement, Trent Nobles, Southside Regional Medical Center’s CEO said the hospital is looking forward to aligning with the Bon Secours Mercy Health system.

“Aligning with Bon Secours Mercy Health will allow us to be part of a larger network of hospitals in Virginia,” he remarked. “Our hospitals have shared values and a commitment to providing our patients safe, quality care from compassionate clinicians. We are very excited about this partnership.”

Speaking to the transition of current employees at the trio of hospitals, Bon Secours representatives said, “All active associates in good standing at Southside Regional Medical Center, Southampton Memorial Hospital and Southern Virginia Regional Medical Center have joined Bon Secours Mercy Health and have worked closely with leaders to ensure a smooth transition.”

“Bon Secours Mercy Health leaders have been onsite over the past 60 days to help transition associates into the health system, sharing information about Mission, vision, core culture behaviors, identifying best practices and opportunities, and clarifying next steps,” they closed.

To learn more about Bon Secours Mercy Health, visit their website at http://bsmhealth.org.

Copyright 2020 by Womack Publishing
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