CHI Memorial Hospital will purchase Cornerstone Medical Center in late December, CEO Larry Schumacher announced this morning.
In addition, CHI Memorial will purchase the former Hutcheson Medical Center ambulatory surgery center, located on Battlefield Parkway in Ringgold. The center has been owned by Regions Bank since Hutcheson shut down.
Cornerstone Medical Center is owned by Valor Bridge. The company purchased Hutcheson for $4.2 million out of bankruptcy court in December 2015. The hospital has operated in Fort Oglethorpe since the early 1950s.
CHI Memorial has operated the hospital since signing a management agreement in August.