Plans For Sistersville Hospital Rejected
Sistersville, WV-Sistersville General Hospital’s Board of Managers, the City of Sistersville Council, and the City of Sistersville Building Commission (SGH) voted and approved last month to sell the hospital under the terms of an Asset Purchase Agreement negotiated with Wheeling Hospital, Inc. (Wheeling Hospital). However, plans of moving forward with the transaction were halted this week by Wheeling Hospital when SGH was advised by Wheeling Hospital that it would not be proceeding toward a closing on the transaction.
Doug Harrison, Chief Executive Officer, of Wheeling Hospital advised SGH that the acquisition is no longer a transaction it can pursue. An excerpt from an internal communication said the decision was “based on [Wheeling Hospital’s] assessment of the overall healthcare market in the immediate region, as well as the limits such a purchase would likely create as we undertake our own efforts to expand clinical programs and services at Wheeling Hospital.”
Harrison released the following statement on the matter: “Wheeling Hospital has made the difficult decision to not pursue further discussions with the leadership of Sistersville General Hospital about acquiring the hospital… Although not an easy choice by any means, we appreciated the opportunity to explore such an arrangement. As such, Sistersville General Hospital is now able to pursue discussions with other health systems or hospitals about a possible acquisition or partnership.”
Although SGH was surprised by the decision to withdraw from the transaction project so abruptly, it appreciates the assistance provided by Wheeling Hospital.
“SGH is in a better position than it was three years ago and that is due in part to the support we received from Wheeling Hospital. This is just another delay-we remain optimistic about SGH’s future.” said SGH Board Chair, Linda Leasure. Brandon Chadock, SGH’s Chief Executive Officer said, “There is no doubt that this is a challenging time for the delivery of rural medicine, but our employees have proven they are up to the task, time and time again. We have had a lot of opportunity to prepare ourselves for an acquisition and so we are primed and ready. We have already begun communications with other potential partners.”
SGH employs approximately 170 people and operates three medical clinics, inpatient and outpatient care, a 24-hour emergency room and a variety of ancillary services like laboratory and imaging to meet the healthcare needs of rural communities in Tyler, Wetzel, and Pleasants counties in West Virginia.