Sale of Sparks ‘on target’ for June close

Negotiations to close the sale of Sparks Health System to Alpharetta, Ga.-based Jackson Healthcare are “on target” for a deal set to close no later than June 30.

Sparks announced Mar. 30 the sale to Jackson Healthcare contingent upon a successful period of due diligence and negotiations. Terms of the deal were not disclosed.

“We remain on target and a great deal of work is being done to ensure a smooth process,” Frederick “Ted” Woodrell, Sparks CEO, noted in a written statement.

Sources tell The City Wire that Sparks’ May board meeting was moved from its regular date to May 15 with the expectation that the Sparks board will be told the negotiations were successful and the sale will move forward. Sparks officials would not comment on the May board meeting.

Sparks, founded in 1887, directly and indirectly employs more than 2,000 in the area and reported 2008 admissions of almost 13,000 patients.

Jackson Healthcare, founded in 2000, is in the business of helping hospitals find qualified staff, hospital management, and health information technology systems and equipment. The company employs 400 at its Alpharetta, Ga., corporate headquarters and more than 600 nationally. The company works with about 1,000 hospitals each year.