HOT SPRINGS, Ark. (AP) - Mercy Health and Catholic Health Initiatives have signed a non-binding letter of intent to transfer ownership of Mercy Hot Springs hospital and physician clinic to CHI and its affiliate, St. Vincent Health System in Little Rock.
The agreement was signed Friday. The parties plan to complete the transaction by Dec. 31 once final terms are agreed to.
Enhancing the Catholic health ministry and strengthening access to health care is a key objective of the proposal. Once transferred, Mercy Hot Springs would be operated as part of an integrated network with St. Vincent, which is part of CHI.
St. Vincent has committed to preserve existing physician relationships in the community and build new ones as they work to strengthen the ministry in Hot Springs. St. Vincent plans no changes in employment.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.