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Capella Healthcare to buy interest in DeKalb Community Hospital
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Capella Healthcare recently 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 percent 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.