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University Hospital to acquire Keysville nursing home
Augusta Chronicle - 11/16/2018
Nov. 16--The boards of University Health Care System, and the county hospital authority that oversees it, have voted to move forward with a plan to purchase a skilled-nursing facility in Keysville, Ga.
The sale of the 64-bed Keysville Nursing and Rehab Center in Burke County would close by Dec. 31, following a due diligence and negotiation period that began Thursday when the two boards approved the transfer of $4 million from University Hospital's strategic capital budget to the Richmond County Hospital Authority. The unanimous votes were conducted in concurrent but legally separate meetings.
If finalized, the deal would give University Hospital's extended-care operation its fourth facility and its first in Burke County.
The for-profit facility was built in 1996 on 17 acres off State Route 88 and is owned by Augusta-based Gibson Real Estate LLC. University, through the county hospital authority, operates as a nonprofit hospital.
University officials said the purchase would enable the hospital to expand its services into Burke and Jefferson counties as well as the south Augusta market. Vice President of Operations Tom Lowenkamp said the system could recoup its capital investment in the facility in under three years.
The facility primarily serves Medicare and Medicaid patients. CEO James Davis told board members the hospital already discharges patients to the facility, and that managing it would give it more "control over the level of care," resulting in fewer re-admissions to the main hospital.
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