JONESBORO, Ark., Aug. 27 Northeast Arkansas Clinicannounced today that Memphis-based Baptist Memorial Health Care Corp., one ofthe nation's largest not-for-profit health care systems, has signed a non-binding letter of intent to negotiate the acquisition of Northeast ArkansasMedical Center, a 104-bed, all private room hospital located in Jonesboro,Ark.
Baptist Memorial has agreed to negotiate with a subsidiary of CommunityHealth Systems Inc. (CHS) for the purchase of the subsidiary's interest in NEAMedical Center. With the appropriate regulatory approvals and the execution ofa definitive agreement, the partnership between Baptist Memorial and theClinic is expected to begin officially early this fall.
"NEA Clinic is thrilled to have a partner with strong capital support whoshares the same vision and commitment to the community and to the patients weserve," said Jim Boswell, CEO of NEA Clinic.
"We are excited to partner with NEA in this endeavor," said David Hogan,executive vice president and chief operating officer for Baptist Memorial."Having a presence in Jonesboro is a perfect fit for our health care system,and we look forward to meeting the health care needs of the Jonesborocommunity."
NEA Clinic is the largest physician-owned multispecialty medical grouppractice in Arkansas, with more than 90 physicians practicing in 22 locationsthroughout the region. The mission of NEA Clinic is to provide comprehensive,personalized, quality care to patients throughout Northeast Arkansas. For moreinformation on NEA Clinic, please visit www.neaclinic.com.
Baptist Memorial Health Care offers a full continuum of care tocommunities throughout the Mid-South. The Baptist Memorial system, whichconsistently ranks among the top integrated health care networks in thenation, comprises 14 affiliated hospitals; more than 3,100 affiliatedphysicians; as well as home care and hospice throughout West Tennessee andNorth Mississippi; minor medical centers and clinics; a network of surgery,rehabilitation and other outpatient centers; and an education systemhighlighted by the Baptist College of Health Sciences, which has 900 studentsenrolled. Baptist Memorial has more than 2,300 licensed beds systemwide,employs nearly 12,000 people and has approximately 82,000 admissions annually.In fiscal year 2006, Baptist Memorial provided $373 million in communitybenefit to the communities it serves. For more information about BaptistMemorial, please visit www.baptistonline.org or call 800-4-BAPTIST.
SOURCE Baptist Memorial Health Care Corporation