Council approves CRMC purchase
Friday, Jul 6, 2012
COOKEVILLE – The Cookeville City Council approved Cookeville Regional Medical Center’s request to purchase Celina’s Cumberland River Hospital for $6.745 million from Restoration Healthcare of Celina at its regularly scheduled meeting July 5. The hospital’s board of trustees passed a resolution in support of the purchase at its May meeting and forwarded the request to the council for final approval.
CRMC will take ownership of the facility as of Aug. 1. Cumberland River Hospital will become a 501(c)3 not-for-profit hospital with the real estate and all buildings becoming the property of the city of Cookeville. The Celina-based hospital will continue to operate as Cumberland River Hospital.
“We are happy to have Cumberland River Hospital as a part of our system of health care services,” said CRMC CEO Dr. Menachem Langer. “This acquisition is a win-win for both hospitals. We are able to expand our reach into the region and Cumberland River Hospital and its patients will get the benefit of being a part of a larger organization with additional resources and services.”
Cookeville Regional’s acquisition of Cumberland River Hospital strengthens both facilities’ positions in the region and develops a stronger base of support for both facilities. Cumberland River will continue providing its current services and will have more access to specialists and specialty care at Cookeville Regional.
“Because of uncertainties in today’s health care environment, more and more independent hospitals are exploring options to join with others,” Langer added. “With health care reform looming in our future, it is imperative that we take steps now to secure our position so that we may continue our mission to provide high quality health care now and into the future.”