Owensboro Health and Twin Lakes Regional Medical Center have finalized a purchase agreement that formally adds Twin Lakes Regional Medical Center to the Owensboro Health system, effective immediately.
A 75-bed hospital based in Leitchfield, Kentucky, Twin Lakes becomes the third hospital in the Owensboro Health system, joining Owensboro Health Regional Hospital and Owensboro Health Muhlenberg Community Hospital.
The hospital will be renamed Owensboro Health Twin Lakes Medical Center.
The agreement between Owensboro Health and Twin Lakes fulfills a letter-of-intent signed by both parties on April 13, 2020 and completes a nine-month due diligence process.
The addition of Twin Lakes adds nearly 500 new employees to the Owensboro Health workforce, which now totals nearly 4,800 team members. The agreement also adds more than 20 Twin Lakes Regional Medical Center specialists to Owensboro Health Medical Group.
“Joining with a strong partner like Owensboro Health is an investment in our hospital and in the communities we serve,” said . “We approached this search from a position of strength and were looking for a health system that understands rural healthcare. Owensboro Health has demonstrated a sincere commitment to our hospital, our employees and the Grayson County area.”
Earlier this summer, Wayne Meriwether, CEO of Twin Lakes Regional Medical Center, announced he would retire after the Owensboro Health purchase is finalized.
Ashley Herrington, former CFO at Twin Lakes, has been named to replace Meriwether as Twin Lakes’ top executive.
Twin Lakes announced plans to seek a potential affiliate partner in August 2019 and conducted interviews with several interested health systems before pursuing an agreement with Owensboro Health.
Source: WBKO
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