Under the terms of the agreement, St. Mary’s will assume ownership of the Greensboro hospital Jan. 1, and during the next two months, St. Mary’s will convert SJEG’s operating, financial and information technology systems to its own system, according to the news release. St. Mary’s announced its intention to acquire SJEG in April and has been providing interim management of the Greene County facility since May.
The current facility — the former Minnie G. Boswell Hospital — near downtown Greensboro is more than 60 years old. As part of the agreement, St. Mary’s has committed to building a state-of-the-art replacement hospital. The new 25-bed critical access hospital is expected to be approximately 80,000 square feet and cost $35 million to $40 million which will be financed by Catholic Health East, the parent company of both St. Mary’s and SJHS. St. Mary’s intends to break ground on the new hospital in the second quarter of 2012 and anticipates opening in early 2014.
After completing the transaction, St. Mary’s will hold the only certificate of need issued by the state of Georgia to operate a critical access hospital in Greene County.