An agreement signed Tuesday will lease the Polk Medical Center to the Hospital Authority of Floyd County, which promises to do $2 million worth of renovations to the facility and build a new, 25-bed replacement by 2016, officials said.
Signed in Cedartown, Ga., where Polk Medical Center is located, the lease agreement begins April 1, 2012, documents show. The agreement was signed by Floyd Medical Center, the Hospital Authority of Floyd County and the Cedartown-Polk County Hospital Authority.
The facility not only serves Cedartown-area residents in Polk County, but residents in adjacent counties will reap benefits, too, said Harold Wyatt, chairman of the Cedartown-Polk County Hospital Authority.
Floyd will operate the existing hospital under a five-year lease until the new hospital planned for a site east of Cedartown is completed, Wyatt said. The agreement calls for the new 25-bed hospital to include two operating rooms and an adjoining medical office building, records state.
The existing facility will be put to a different use once the new hospital is finished, he said. Floyd will have a 35-year lease on the new facility, then it will become the property of the Cedartown-Polk County Hospital Authority, he said.
Floyd's authority will gain a bigger regional footprint, while revenue generated in Polk will remain there, Wyatt said.
The facility's name will change slightly to Polk Medical Center Inc., operating under the direction of a nine-member board of directors, six of them coming from the Cedartown-Polk County Hospital Authority, officials said.
Wyatt said he was "very happy with the selection of Floyd" as services are expanded in Polk County.
"We are thrilled to be officially starting the process of further enhancing health care in Polk County," Floyd Medical Center CEO Kurt Stuenkel said in a news release issued Tuesday.
Stuenkel said officials immediately will start picking an architect and general contractor for the new hospital project.
Ben Benton is a news reporter at the Chattanooga Times Free Press. He covers Southeast Tennessee and previously covered North Georgia education. Ben has worked at the Times Free Press since November 2005, first covering Bledsoe and Sequatchie counties and later adding Marion, Grundy and other counties in the northern and western edges of the region to his coverage. He was born and raised in Cleveland, Tenn., a graduate of Bradley Central High School. Benton ...
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