Blount Memorial Hospital to buy East Tennessee Medical Group
Iva Butler (email@example.com)
The 30 shareholders of ETMG approved the sale Tuesday night, said BMH Administrator Don Heinemann.
The BMH Board of Directors unanimously approved the purchase at a called meeting this morning.
The hospital will pay $24.3 million for the group, $16,852,906 for real estate assets and $7,455,000 for the practice assets, which include items such as medical equipment and business-related equipment, such as computers and furnishings. These values were determined by independent evaluators.
BMH Administrator Don Heinemann said this purchase gives the hospital a great opportunity in the community to continue to provide quality health care.
The goal is to close on the deal on or before Oct. 1. ETMG has over 200 employees.