[News] Stroudwater Serves as Transaction Advisor to Mayo Clinic as HCA Acquires Satilla Regional Medical Center in Waycross, GA
May 1, 2017 – Stroudwater congratulates the Mayo Clinic Jacksonville, the community of Waycross, GA, and Hospital Corporation of America (HCA) on the recent divestiture of the 231-licensed-bed acute care hospital in Waycross, GA and HCA’s purchase of the hospital.
Stroudwater served as transaction advisor to the board of directors of the Mayo Clinic Health System in Waycross, Inc. and undertook a national search process that resulted in HCA’s $51.1 million offer to purchase the hospital.
Post-closing, a community-controlled 501(c)(4) organization was established and vested with more than $70 million in assets to be used to address community health needs throughout the region.
As part of the agreement, HCA will fund indigent care and maintain core services and operations. The transaction closed on May 1, 2017.