Hospital Sale Goes Throough
by January 11, 1999 12:00 am 103 views
Quorum Health Group is paying $66 million for real estate owned by Northwest Health Systems Inc. of Springdale. The deal was finalized Dec. 4.
The sale included the 222-bed Northwest Medical Center at 607 Maple St. in Springdale but not the 63-bed Bates Medical Center at 602 N. Walton Blvd. in, which was leased by Northwest and is being leased by Quorum until the company spends about $20 million to build a new hospital there.
Bobby G. Shaw signed the contract for Northwest and George I. Pust, vice-president of Quorum Health Group Inc. of Brentwood, Tenn., signed for his company. The deal includes giving Northwest the first right of refusal in the event Quorum ever decides to resell the hospital.
The property was bought through QHG of Springdale, a subsidiary of Quorum.