As part of the final acquisition agreement with Bell Hospital, LifePoint will make $5 million in capital investments to the critical access hospital over the next decade, including an improved IT infrastructure and equipment and facility upgrades. Bell also will have access to support and resources to help it recruit and retain physicians, enhance its clinical services to meet the changing needs of its community, and improve its operations.
In addition, proceeds from the sale will eliminate Bell's debt, leaving an additional $4 million that Bell plans to use to support community charities, LifePoint and Bell said in a joint media release.
"Bell Hospital looks forward to beginning this next chapter in the rich legacy of our hospital," Floyd Bounds, Bell Hospital CEO, said in prepared remarks. "We are excited for the months ahead and for the opportunities we will have to be a part of creating healthier communities across the U.P. with LifePoint. This is truly an exciting day for our hospital, physicians, employees, and patients."
Murphy says LifePoint is not overly concerned about suggestions that the federal government may reconsider or revoke the status of hundreds of critical access hospitals across the United States.