Baptist, governments wrap up hospital deal
Published: August 19,2011
OXFORD — After two years of negotiations, Baptist Memorial Health Care Corp has completed the purchase of a building it had been leasing from local governments.
The BMH North Mississippi hospital was sold for more than $60 million. The City of Oxford and Lafayette County will jointly share the profits.
The hospital will move forward with building a new $250-million facility in Oxford, according to The Oxford Eagle. Baptist has said it cannot grow or expand on its current site because it is landlocked on 13 acres
In 2009, Memphis, Tenn.-based Baptist announced plans to replace the current hospital with a new medical center. It sought to purchase the existing facility and buy its way out of a lease with the city and county, which owned the hospital. Baptist had leased the hospital since 1989.
The votes by city aldermen and county supervisors approving the sale came earlier this month.
How Oxford would use its share of the money was a point of contention for a time. The Oxford Board of Aldermen voted at one point to invest most of the money but set aside $2 million for immediate community needs.
However, at a recent meeting, the board reversed itself and voted to restore the $2 million into the investment pot after Mayor Pat Patterson threatened to veto the effort to use it for community needs.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Shale oil: market correction or longterm direction?
- Miss. surgeon sentenced in tax evasion case
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- Hyatt-Place is Columbus’ newest hotel option
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters