LCMC Health acquires 420-bed hospital

New Orleans-based LCMC Health announced Oct. 1 that it has completed its acquisition of East…

LCMC Health acquires 420-bed hospital

New Orleans-based LCMC Health announced Oct. 1 that it has completed its acquisition of East Jefferson General Hospital in Metairie, La. 

Under the agreement, LCMC will pay $90 million for the 420-bed hospital and will invest $100 million in its operations over the next five years. The acquisition provides job security to East Jefferson General Hospital’s nearly 3,000 employees. 

“East Jefferson General Hospital will continue to bring an unmatched level of health care to the residents of Jefferson Parish, now with the support of a large, locally-operated hospital system,” East Jefferson General Hospital President and CEO Gerald Parton said in a news release. “This partnership ensures the continuation of our legacy and the retention of thousands of jobs for some of the finest health care workers in the region.”

East Jefferson General Hospital is LCMC’s sixth hospital. 

More articles on healthcare industry transactions:
Advocate Aurora, Beaumont cancel merger
CHS divests Florida hospital, plans to sell 2 others in Tennessee
HCA sells hospital, exits Mississippi


© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

Source Article