LCMC Health’s acquisition of struggling 420-bed Louisiana hospital advances

East Jefferson General, the only standalone medical facility in the area, has struggled to complete in a progressively combined health care market..

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Under the deal, LCMC Health will pay $90 million for East Jefferson General and has promised to spend $100 million to upgrade it. The $90 million from the sale will be combined with East Jeffersons cash to fund its pension and assist settle $135 million in financial obligation.

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The vote clears the way for LCMC Health to take over the 420-bed medical facility and add it to its network..

About 95 percent of citizens were in favor of the deal, which has actually remained in the works for more than a year. Previously this year, the sale was authorized by the medical facility board.

” With the general publics vote to approve our partnership, the Jefferson Parish neighborhood will continue to get extraordinary healthcare through East Jeffersons dedicated group of doctors and staff,” Mr. Feirn said..

Jefferson Parish homeowners voted to approve the sale of East Jefferson General, a financially distressed center in Metairie, La., to New Orleans-based LCMC Health, according to NOLA.com.

LCMC Health CEO Greg Feirn stated the deal will assist make sure the long-term sustainability of the hospital.

Alia Paavola –
Monday, August 17th, 2020
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