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|IASIS purchases Ouachita Community Hospital; hospital reportedly sells for $19M|
The parent company of Glenwood Regional Medical Center, IASIS Healthcare Corp., finalized its purchase of Ouachita Community Hospital on Friday, and will assume ownership of the facility immediately.
Glenwood CEO Ron Elder declined late Friday to discuss how much money IASIS Healthcare paid for the community hospital, saying that information will be released at a later date.
A source close to the transaction said Ouachita Community Hospital sold for some $19 million.
Elder said employees currently working at Ouachita Community Hospital will remain on staff.
The public shouldn't expect any major changes at Ouachita Community, Elder said.
Ouachita Community Hospital opened in 2004. It was founded by a group of local physicians in partnership with Nueterra Healthcare. The local doctors and Nueterra will both retain minority ownership in the hospital.
Ouachita Community is a 10-bed surgical hospital located on Glenwood Drive in West Monroe.
Under the new ownership structure, the facility will continue to offer a wide range of surgical services, including general surgery and procedures in specialty areas such as orthopedics, ENT, gynecology and gastroenterology, Elder said. Nueterra Healthcare currently provides management services for the hospital and will continue to oversee the day-to-day operations of it.
"Ouachita Community Hospital primarily offers outpatient surgical procedures, which we believe will be a good complement for the services offered at Glenwood Regional Medical Center," Elder said. "We are pleased to expand our services in the community and look forward working with our new partners as we continue to provide outstanding healthcare for residents of West Monroe and the surrounding areas."
Dr. Jerry Fontenot, chairman of the board of Ouachita Community Hospital, echoed Elder's comments.
"This is a great opportunity to align two strong medical facilities that have a shared commitment to providing high-quality healthcare services. It allows us each to focus on our unique areas of strength while also combining our expertise and resources."