Bob Coffield Serving as Transaction Counsel for Pleasant Valley Hospital in Acquisition
Cabell Huntington Hospital (CHH) and Pleasant Valley Hospital (PVH) have signed a Letter of Intent, effective May 31, 2022, to solidify and expand their relationship from their 2013 Management Services Agreement by joining CHH and becoming a part of the Mountain Health Network.
The agreement calls for Cabell's investment of $25 million in Mason County. In addition, PVH and its Board of Trustees plan to contribute an estimated $14 million to be used by Cabell toward capital improvement projects at PVH. Upwards of $39 million will be invested in PVH over the next five years.
Over the next several weeks, the two entities will work to develop a Definitive Agreement. After executing the Definitive Agreement and regulatory approvals, PVH will join CHH and St. Mary's Medical Center as a member of Mountain Health Network. Flaherty attorney Bob Coffield is serving as transaction counsel for PVH.