CRMC moves forward with $6.745 million Celina hospital purchase
Friday, May 25, 2012
CRMC, shown here, signed a letter of intent to acquire Cumberland River Hospital in Celina in February..
COOKEVILLE – The board of trustees of Cookeville Regional Medical Center (CRMC) have passed a resolution to purchase Cumberland River Hospital in Clay County for $6.745 million from Restoration Healthcare of Celina. Passed at the board’s May meeting, the resolution will now be forwarded to the Cookeville city council for final approval at its regularly scheduled meeting on Thursday, June 21.
Once approved by the council, CRMC will take ownership of the facility as of July 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 at Cookeville Regional Medical Center are pleased to be expanding our services,” said Cookeville Regional CEO Dr. Menachem Langer. “More and more independent hospitals are exploring options to join others as the future of health care becomes more uncertain. Acquiring Cumberland River Hospital is a great move to help secure our mission to provide quality health care into the future and to help secure the availability of health care in Celina and Clay County. We look forward to working with the staff of Cumberland River Hospital as well as becoming a part of the community in Celina and Clay County.”
Cookeville Regional’s acquisition of Cumberland River, a process that started in February, strengthens both facilities’ positions in the region and develops a stronger base of support for both facilities. Cumberland River will continue providing services and access to care in the Celina area in addition to having more access to specialists and specialty care at Cookeville Regional.