Blount Memorial Hospital to buy East Tennessee Medical Group
Iva Butler (ivab@thedailytimes.com)
Blount Memorial Hospital is purchasing East Tennessee Medical
Group (ETMG), the largest private medical group in Blount County.
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.
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.
