RMC Medstone recently sold a majority interest in Stanislaus Surgical Hospital in Modesto, Calif., to Sutter Health, according to a Modesto Bee report.
Here are five key notes:
1. The agreement was effective on April 1, although Sutter and the surgical hospital were in discussions about a potential partnership since June 2013. The two have been in exclusive negotiations since then.
2. Stanislaus Surgical includes eight operating rooms and 23 inpatient beds. Specialties at the hospital include knee and hip replacements.
3. Stanislaus Surgical will remain a separate business entity, according to the report, and continue current operations; Sutter will now work with the physician owners.
4. The agreement allows partners to share expertise for increased clinical quality and patient satisfaction.
5. Merritt Healthcare advised RMC Medstone on the sale. The company advised on marketing interest in the facility, due diligence and the documentation process.