Freeman Health System, a non-profit healthcare service provider, announced on Monday the completion of its acquisition of Northwest Health in Northwest Arkansas a subsidiary of Community Health Systems, Inc. (CYH) following the close of its purchase agreement.
Following the closure of its deal, Freeman Health care network includes Bentonville Medical Center, Springdale Medical Center, Willow Creek Medical Center, and Siloam Springs Medical Center, noted the firm.
The acquisition marks Freeman's expansion into Arkansas to increase access of community focused care while advancing clinical collaboration, operational excellence, noted the firm.
While the company's long-term goals for the newly expanded system include
-To address the growing need for behavioural healthcare in Northwest Arkansas by expanding specialized mental health and substance use services.
-To empower the local teams to enhance care delivery and sustain community-focused services.
-To increase access to maternal care.
-Expanding specialty care services, including cardiology, oncology, and orthopaedics.
-Strengthening recruitment and retention efforts to educate, train, and hire the next generation of providers.
In addition, Northwest Health patients will continue to have access to the facilities and there will be no changes to the insurance plans accepted the company stated.
CYH closed on Monday at $2.75, up 1.10%. In the after-hours the shares are trading up 0.36% to $2.76.
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