![]() ![]() Beyond that, no further information will be released prior to the event.īut once again, sources close to those who would be affected by such a purchase are confident this is going to be announced. John Marymount, dean of the college of medicine, and Owen Bailey, c-e-o for USA Health. Set to be in attendance, university president Jo Bonner, and Dr. They will only say it is to consider items to include a strategic transaction. announcing a meeting of the University of South Alabama board of trustees Tuesday at 1 o'clock. The notion took on more credence Monday when USA issued a media advisory. and now sources close to the subject tell NBC 15 that deal will be announced Tuesday afternoon. It's been a rumor NBC 15 News has been hearing for months. So they soar! All the way to the top!“Īnd with health care at the forefront of their minds, these workout buddies were very interested to hear about the possible purchase of Ascension Providence Hospital by USA Health. "I've had some that go in to the doctors and get praise reports that they're no longer needing medication anymore,” SHE SAYS, “blood pressure levels are dropping. And workout leader Kimberly Clayton says, it's working! SOAR stands for staying optimistic and achieving results. That's the main objective at the SOAR workout studio on Azalea Road. USA Health says there are no plans for any layoffs, and there are no plans right now to rename the hospital. "We have expanded our footprint from seven or so locations in 2016 to about 30 or so different locations in the Mobile Bay area," said Bailey. The purchase adds to the explosive growth of USA Health. "We have done an extreme amount of due diligence and we're very confident in our evaluation of the opportunity," said Marymont. USA Health says after five months of extensive review, including the use of nationally recognized consulting firms, it determined the purchase was strategically sound. The reason why was not provided but investor disclosures show Ascension ended its 2022 fiscal year in the red, with a net loss of $1.8 billion. USA says Ascension Health, which owns 144 hospitals, approached them a year ago about the acquisition. It's the ability to make the payrolls until we get our collections up, until we get that reimbursement coming back," said USA Whiddon College of Medicine Dean Dr. "When you purchase a house, you need money to run the house. The board agreed to initially take out a $100 million bridge loan and $50 million line of credit to cover the purchase and cash flow. "Our combined and complementary health system will be prepared to meet the healthcare needs of the people of our region," said USA Health CEO Owen Bailey. This provider currently accepts 27 insurance plans including Medicare and Medicaid. The purchase will add 349 hospital beds, a level 3 trauma center, and physician practices of Ascension Medical Group. Sara Long, MD, is an Internal Medicine specialist practicing in Semmes, AL with 10 years of experience. "When the acquisition closes this fall, Providence will become part of USA Health," said USA President Jo Bonner. In a special called meeting Tuesday afternoon, the University of South Alabama Board of Trustees approved the $85 million purchase of Providence Hospital, owned by Ascension Health. ![]()
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