Carolinas Hospital System sold to MUSC
FLORENCE, S.C. -- Two Pee Dee hospitals -- and four South Carolina hospitals in total -- have been sold to the Medical University of South Carolina, according to published reports.
Carolinas Hospital System, a 396-bed, regional, acute-care facility, and Carolinas Hospital System Marion, a 124-bed acute-care facility providing a variety of inpatient and outpatient services, as well as a 92-bed nursing center, were purchased from Community Health Systems Inc. The purchase was approved during a MUSC Board of Trustees meeting Monday.
The other hospitals purchased by the school include Chester Regional Medical Center and Springs Memorial Hospital.
“As the state’s leading academic health center, we must be prepared for the future,” said David J. Cole, M.D., FACS, MUSC president. “MUSC is committed to providing the best health care possible for our communities and state through strategic partnerships and our emerging MUSC Health network,” Cole added.
In calendar year 2017, the four hospitals combined delivered care through more than 129,000 emergency department (ED) visits, 159,000 outpatient visits (excluding ED visits), 18,800 hospital admissions, and 339,000 clinic visits with physicians. Once the acquisition is completed, MUSC will employ more than 16,400 team members throughout the state.
“This transaction is the first time MUSC has acquired other hospitals,” said Charles W. Schulze, CPA, chairman of the MUSC board. “The additions will increase the size and scale of the MUSC Health network, and in today’s environment, larger, more efficient health care systems can deliver greater value to patients and have a positive impact on population health,” he stated.
“We look forward to welcoming the patients, families and employees of these hospitals into the MUSC Health network,” said Patrick J. Cawley, M.D., MUSC Health CEO and vice president for Health Affairs, University. “Through affiliations with other hospitals and health systems across South Carolina, and through our robust telehealth network, MUSC’s clinical outreach allows us to serve the citizens of our state no matter where they are. The purchase of these four hospitals is the natural extension of our mission to preserve and optimize human health in South Carolina,” Cawley added.
Although MUSC is a state-assisted organization, state appropriations for the university and hospital authority are less than 3 percent of their combined annual budget. As a result, MUSC works diligently to fulfill its mission through prudent financial management, dedicated philanthropic support, and strategic business growth. Roughly 60 percent of all MUSC Health patient care revenues are generated from statewide communities outside of the Tri-county area, while the remaining 40 percent of patient care revenues are driven by services delivered within the Tri-county market (Charleston, Berkeley and Dorchester counties).