A called meeting for the board of directors of the Hospital Authority of Floyd County immediately went into closed session Wednesday, and resulted in no vote.
It’s unclear if the discussion concerned the final details of a deal between Floyd Medical Center and Atrium Health.
In February, FMC President and CEO Kurt Stuenkel said the board was down to its final details and the proposal would be brought before the board for a vote by the end of March.
The overall deal has remained much the same since it was announced over a year ago. There have been a lot of smaller details to iron out before the proposition can be vetted by the state, many of them concerning Floyd’s real estate holdings.
Once the proposal is finalized for what will become Atrium Health Floyd, it will be presented to the Georgia Attorney General’s office.
Because the Floyd and Polk County hospitals are not-for-profits, they must demonstrate to the state how the deal benefits the communities they serve. Another of Floyd’s hospitals, Cherokee Medical Center in Alabama, will not have to submit a proposal. Alabama does not have the same set of regulatory requirements.
The alliance, which is likely the largest business deal in Floyd County history, will likely pump in excess of $650 million dollars into the Floyd system over the next 11 years.
The process of review at the AG’s office takes 90 days, Stuenkel said. The closing of the deal is expected to be in mid-June or early July.