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FirstHealth of the Carolinas to Acquire Sandhills Regional Medical Center
| Date Posted: 10/19/2016
David J. Kilarski
PINEHURST – FirstHealth of the Carolinas has signed an asset purchase agreement to acquire Sandhills Regional Medical Center (SRMC) and its affiliates in Hamlet, North Carolina.
The acquisition, subject to customary regulatory approvals and closing conditions, is expected to be completed within the next 60 days, at which time SRMC will join FirstHealth’s extensive network of health care services.
“We are excited to welcome SRMC employees to the FirstHealth family,” says FirstHealth CEO David J. Kilarski. “We look forward to increasing the availability of FirstHealth services in Richmond County and continuing our tradition of high-quality care for the residents of Hamlet and surrounding areas.”
The acquisition will make SRMC the fifth hospital campus in a FirstHealth system currently comprising FirstHealth Moore Regional in Pinehurst, FirstHealth Montgomery Memorial in Troy, FirstHealth Moore Regional-Hoke Campus in Raeford and FirstHealth Richmond Memorial in Rockingham. FirstHealth Richmond Memorial joined FirstHealth in 1999 and operates as a division of FirstHealth Moore Regional.
“The benefit to residents and patients extends beyond our award-winning care throughout Richmond County,” Kilarski says. “We expect our investments in the latest health care technology and our commitment to delivering the highest quality of care to improve the overall health of the population. Furthermore, the addition of SRMC’s outstanding staff to the FirstHealth team will enable SRMC to continue to provide its services in a manner that meets the community’s high expectations for the patient care experience.”
FirstHealth will offer employment to substantially all SRMC employees in good standing at the time of the transaction’s completion. Over the coming weeks, staff from FirstHealth Human Resources will provide presentations on the SRMC campus to explain the process, including information about compensation and benefits.
“Richmond Memorial joined FirstHealth 17 years ago,” says David Wood, chair of Richmond Memorial Hospital’s Board of Trustees. “I recall that transition being a seamless process, and the benefits of being part of FirstHealth were well-received by the employees and the community. We couldn’t be more excited to join forces with SRMC.”
“We look forward to increasing our focus on providing a continuum of care for patients and leveraging FirstHealth’s network strength and relationships within our community,” says David Clay, SRMC CEO. “This alignment affords us the opportunity to build on our strong track record of clinical and operational performance.”
At present, each organization will continue to operate under its own name as the administrative teams of both FirstHealth and SRMC work toward aligning operations and systems to better meet the health needs of Richmond County and increase the effectiveness of care delivery.
“We plan to take advantage of the strengths of each organization and capitalize on them to enhance the services at each location where they can benefit the community the most,” says Kilarski.
The SRMC transaction is expected to be completed on December 1, 2016.
About FirstHealth of the Carolinas: The Pinehurst-headquartered FirstHealth of the Carolinas is a private, non-governmental, not-for-profit health care network serving 15 counties in the mid-Carolinas. In addition to the four hospital facilities with 534 licensed beds it currently owns and operates, FirstHealth serves Southcentral North Carolina with robust community health programs, family care centers, dental clinics for underserved children, a hospitality house for overnight stays, fitness centers, a home health agency, hospice and other services. FirstHealth also operates FirstCarolinaCare Insurance Company, a not-for-profit North Carolina-based, provider-owned health insurance plan licensed in all 100 counties. In addition to its commercial products, FirstCarolinaCare offers First Medicare Direct, a Medicare Advantage health plan for residents throughout the region who are 65 years of age and over. With its distinctive positioning as the region’s most comprehensive health care system, FirstHealth has a proven track record as an efficient provider of high-quality health care.