Ballad Health has obtained full ownership of two rural Virginia hospitals and, as part of the agreement, announced over $310 million of planned investments into two local foundations supporting community health, workforce development and education, Fierce Healthcare reports.
Ballad Health already had partnerships in place with the Wellspring Foundation (formerly the Johnston Memorial Healthcare Foundation) and the Smyth County Community Foundation.
The Appalachian health system was also the majority owner and operator of both foundations’ hospitals through its Mountain States Health Alliance subsidiary, owning a 50.1% stake of Abingdon, Virginia-based Johnston Memorial Hospital and an 80% stake of Marion, Virginia-based Smyth County Community Hospital. Read more.
