Latest News, WVPA Sharing

Wheeling Hospital makes $5.5M deal for Sistersville

By MILES LAYTON

The Weirton Daily Times

SISTERSVILLE, Ohio — City Council approved plans to sell Sistersville General Hospital to Wheeling Hospital for $5.5 million.

During a special meeting last week, council unanimously approved the offer from Wheeling Hospital to assume SGH’s debts and liabilities. Gene Rice, president of the city’s building commission, which has oversight of the facility, said if everything goes as planned, the sale would be finalized in late April.

“This is a great move and a miracle for the city of Sistersville, SGH and Tyler County,” Rice said.

The partnership between Wheeling Hospital and SGH will enhance and increase medical services in the Tyler County facility, officials said.

“We are very pleased SGH and city leaders have placed their trust in our ability to enhance SGH’s long-time commitment to providing its patients with the highest possible level of care. We understand the importance of having a hometown hospital — one that can provide quality services to its patients,” Wheeling Hospital CEO Ron Violi said in a press release.

According to documents obtained from the city, the sale would include a bridge loan in the amount of $750,000 to cover immediate, ongoing expenses until the sale closes. The proposal includes an agreement to continue to operate the hospital and other hospital assets for a minimum of one year after the closing of the transaction.

Brandon Chadock, interim CEO of Sistersville General, said the hospital’s current level of service would remain the same. SGH staff would remain in place and management staff from Wheeling would work closely with SGH leaders and staff in Sistersville.

Soon after the hospital was put up for bid in December, Rice said, sales proposals were sent to eight health care providers including Wheeling Hospital.

The sale would include the hospital, the Nichols Clinic and the Wiser building. Wheeling Hospital also would take over leases at SGH’s rural health care clinics in Middlebourne and St. Marys, according to documents.

If SGH’s liabilities end up

exceeding the $5.5 million sale price, Wheeling Hospital would be solely responsible for any additional liabilities beyond that amount. If the hospital’s liabilities are less than the minimum $5.5 million sale price, any excess funds would be placed in an interest-bearing escrow account that would be released after the settlement of the Cost Reports for 2017.

Violi said Wheeling Hospital’s philosophy is to help keep patients and their loved ones close to home.

“A hospital visit or stay can be stressful, and being able to receive quality care, close to home, eliminates the added stress and burden of traveling to a distant city,” Violi said. “We look forward to working with SGH and the community to provide continuation of care for Sistersville and Tyler County.”

Wheeling Hospital also operates Belmont Community Hospital in Bellaire; Harrison Community Hospital, Cadiz; Bishop Joseph H. Hodges Continuous Care Center; Howard Long Wellness Center; Wheeling Clinic; and health care centers in Wellsburg, Colerain, Bellaire, Bridgeport, Powhatan Point, Shadyside and St. Clairsville.

See more from The Weirton Daily Times

Comments are closed.

Subscribe to Our Newsletter