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Fairmont General Hospital sold, renamed

FAIRMONT, W.Va. — Fairmont General Hospital officially has a new name and a new owner.

The sale of Fairmont General Hospital to Alecto Healthcare Services LLC was finalized at a closing in the Morgantown office of Spilman Thomas & Battle on Friday, Sept. 19.

“Finalizing the acquisition of Fairmont General by Alecto is a very positive move for both the citizens of Fairmont and surrounding areas,” stated Peggy Coster, president and CEO of the hospital. “We are delighted to keep our hospital here in Marion County, and this purchase will allow the hospital to make many of the capital improvements that will allow us to better serve our community.”

The hospital has been renamed as Fairmont Regional Medical Center.

“We are proud to have Fairmont Regional Medical Center join Alecto Healthcare Services,” stated Alecto executive vice president and general counsel Mike Sarrao. “We believe in community hospitals and in the quality of care they provide. With the ever-changing health care landscape, Alecto’s mission is to keep independent community hospitals open so that they can continue to provide care to the communities they serve.

“We have visited Fairmont many times over the past few months and have been very impressed with the friendliness of the staff and the dedication of the physicians, and look forward to working with community to ensure Fairmont’s success for years to come.”

FGH operated as an independent non-profit hospital since 1985. The purchase of FGH by Alecto makes the hospital a for-profit operation.

According to one of the bankruptcy court documents filed with the U.S. Bankruptcy Court in May, FGH first “began to experience recurring operating losses and cash-flow concerns” in 2008…

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