LCMC Health Acquires East Jefferson General Hospital

LCMC Health is acquiring the 420-bed East Jefferson General Hospital (EJGH) from Jefferson Parish, Louisiana for about $205 million. On August 15, 2020, residents of Jefferson Parish, Louisiana, voted to approve the sale. Hospital officials expect the deal to be finalized in about 60 days. LCMC Health agreed to pay $90 million in cash, and to assume the facility’s debt plus about cover $50 million for its existing pension obligations. LCMC also agreed to keep current employees and invest $100 million in facility upgrades over the next five years.

According to a fairness opinion about the proposed sale . . .