BOONVILLE –While the acquisition of the Cooper County Memorial Hospital (CCMH) continues to make progress, the anticipated closing date has been changed to the end of January, 2018. This is in order to meet all of the complex financial, legal and regulatory requirements.
Other than the closing date change, the delay should not change any of the provisions of the original Letter of Intent between the hospital and Rural Hospital Group (RHG) of Kansas City, which is acquiring CCMH. As part of the agreement, a new hospital will still be built to replace the existing facility. All current employees of CCMH will be offered substantially comparable positions and all services and hospital departments will be maintained.
The acquisition process was initiated when the Board of Trustees of CCMH began contacting parties who might be interested in assisting the hospital. CCMH and RHG, of Kansas City, then signed a Letter of Intent to begin negotiations, which, if successful, would result in RHG acquiring the hospital, subject to due diligence by both parties. This planned acquisition would help ensure the availability of emergency, acute, and skilled hospital care and outpatient services in the community. It would also provide the professional management and working capital the hospital needs to best serve the community.
RHG was founded to help keep health care accessible to rural communities through professional management and access to capital. RHG leaders have extensive experience developing and operating hospitals in rural settings.