Wellmont: Plan to become owner of Takoma Regional Hospital still on

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KINGSPORT, TN (WJHL) – Wellmont Health System officials said Wednesday that the health system still plans to become the sole owner of a Greeneville hospital.

According to a news release from Wellmont, the health system’s board of directors voted Tuesday to move toward the integration of Takoma Regional Hospital.

The following is the full release issued by Wellmont Wednesday:

After an extended period of due diligence and ongoing evaluation, Wellmont Health System is proceeding with plans to become the sole owner of Takoma Regional Hospital.

Wellmont’s board of directors voted Tuesday to continue moving toward the integration of Takoma Regional, contingent on solidifying of additional details with Adventist Health System, the hospital’s parent company. When these details are resolved, Wellmont anticipates closing on the transaction by the end of the year.
“We are extremely pleased to inform the community about this development and are excited by what the future holds,” said Bart Hove, Wellmont’s president and CEO. “Together, we and Takoma Regional will be able to enhance the quality of care in Greene County by sharing best practices and our collective strengths. We appreciate everyone’s support and are confident the result of Takoma joining Wellmont will benefit the region considerably.”
Dennis Kiley, Takoma Regional’s interim president, said he is happy Wellmont and AHS are nearing a resolution that will serve everyone’s interests.
“As a longtime member of the health care community in Greene County, Takoma Regional is ready for the next chapter in our hospital’s history as a member of Wellmont Health System,” Kiley said. “We are delighted we are finalizing the remaining details. We have worked collaboratively with Wellmont for a decade and believe we can achieve exceptional health for the community as we move forward.”
Hove emphasized the joint effort to place Takoma Regional in Wellmont’s ownership will have no negative effect on Wellmont’s proposed merger with Mountain States Health Alliance.
Wellmont and AHS had jointly owned Takoma Regional from 2007 until 2014, when they agreed the most appropriate direction for the hospital in the evolving health care environment was to only have one owner – AHS.
But there was a provision in that transaction that enabled the organizations to take another look at the ownership of Takoma Regional. Following further discussions, Wellmont and AHS concluded in 2015 it would be best for Takoma Regional to be aligned with an organization that provides care exclusively in the region. The two health systems shared the news Takoma would become solely part of Wellmont.
Wellmont and AHS began proceeding with that transfer of ownership, but Wellmont soon determined more evaluation was necessary.
“This important evaluation took some time, but it is essential for everyone to understand we never doubted Takoma Regional’s importance to the community or its ability to significantly contribute to Greeneville’s quality of life,” Hove said. “We have consistently been impressed with Takoma Regional’s success, its faith-based legacy of care and the skill and dedication of its staff and physicians. The good work at Takoma will accelerate once we are working together as part of one organization.”
Hove said Wellmont is committed to retaining Takoma Regional’s leaders, associates and physicians and looks forward to building on the many awards the hospital has received. Kiley concurred with the move, saying it will provide stability for the hospital and enable Takoma Regional to thrive from the start as a member of the Wellmont family.
“Our physicians and other medical professionals deliver extraordinary care in furthering our mission to extend the healing ministry of Christ,” Kiley said. “That commitment and desire to transform lives will continue as we join our new colleagues from Wellmont. We eagerly await what the future brings.”

 

Copyright 2016 WJHL. All rights reserved.

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