Nu-Med Completes Sale of 4 Rural Hospitals
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Nu-Med, an Encino-based hospital chain, has completed the sale of four rural hospitals to First Health, a privately held Batesville, Miss. company. The hospitals, situated in Kentucky, Alabama and Mississippi, were acquired by Nu-Med in April, 1985.
The sale of a fifth hospital in Georgia will not be completed until First Health receives approval from that state’s Health Planning Agency. Similar approval for the other hospitals has been granted. The five-hospital deal, originally announced in May, is valued at $12.2 million.
Nu-Med owns and operates 11 acute-care hospitals in the United States and two in England. The company also owns three psychiatric hospitals with 281 beds and has three more under construction.
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