CHI Memorial in Chattanooga, Tenn., has signed a definitive agreement to acquire Cornerstone Medical Center in Fort Oglethorpe and has acquired the former "Hutcheson on the Parkway" in Ringgold.
Larry Schumacher, CHI Memorial CEO and senior vice president of operations, Southeast Division, Catholic Health Initiatives, said, "In August, at the request of Cornerstone’s Atlanta-based owner, ValorBridge, CHI Memorial began to manage Cornerstone Medical Center, and talks progressed on integration opportunities. Subsequently, a definitive agreement to acquire was signed effective December 29, 2017. At the same time, we have acquired the former Hutcheson on the Parkway."
CHI Memorial will provide services at the newly named CHI Memorial Hospital-Georgia (formerly Cornerstone Medical Center) and CHI Memorial-Parkway (formerly Hutcheson on the Parkway).
"With this acquisition, Cornerstone will become part of an integrated health system with more than 3,500 employees and 661 medical staff members. This will enable physicians and associates at Cornerstone and CHI Memorial to collaborate and innovate in order to improve the delivery of efficient and effective inpatient and outpatient care across a broad geographical region" says Schumacher. "This is an opportunity to enhance the services that we can offer in the North Georgia region and build upon the good work that has been accomplished by the Cornerstone team. In light of the ever-changing healthcare landscape, this will help ensure we keep our enduring promise of exceptional quality health care to the residents of the entire region."
"This is a significant investment in the health of our community by a brand our residents know well and trust. The hospital will provide great healthcare and jobs which are important to our area’s economic development," said state Sen. Jeff Mullis, president and CEO of the Northwest Georgia Joint Development Authority.
"In the past few years, our region has seen significant industrial and residential growth," said Randall Peters, chairman of the Board of the Catoosa County Economic Development Authority. "The need for quality healthcare close to where people work and live continues to grow. This acquisition will restore much-needed advanced medical services to the people who live and work in North Georgia, and opens new doors for our community organizations to work with CHI Memorial to address widespread health disparities," he said.
"The Board of Commissioners and I are extremely excited that we have the opportunity for stability and growth in health care services available to the residents of Catoosa County and Northwest Georgia," said Catoosa County Board of Commissioner Chairman Steven Henry. "With our growing population and convenient interstate and highway access, it makes perfect sense that Catoosa County should become the center of gravity for world class health care in Northwest Georgia, and we commend CHI Memorial for undertaking a major leadership role in our region. Catoosa County Government stands ready to work with CHI Memorial to grow and expand our health care infrastructure and services."