Piedmont Healthcare announced Thursday completion of the purchase of Newnan Hospital, with all regulatory reviews completed. As part of the purchase, the hospital will become Piedmont Newnan Hospital, Inc., as Piedmont Healthcare assumes the operations, liabilities and many assets of Newnan Hospital.

“This is a day we’ve anxiously awaited for a long time,” said R. Timothy Stack, president and CEO of Piedmont Healthcare. “We are proud to add Piedmont Newnan Hospital to our healthcare family and look forward to a future of great opportunity and promise for healthcare in Coweta County.”

Piedmont will provide initial capital investments to support existing services as well as new technology and services, and will work with the medical staff and hospital staff to identify the most appropriate needs. In addition, Piedmont will pursue the necessary state approvals to build a new state-of-the-art hospital complex and will repay the $43 million bond debt of Newnan Hospital. Piedmont is also committed to continuing a policy of equal access to all citizens of Coweta County, including uncompensated indigent/charity care.

The Piedmont Newnan Hospital, Inc., Board of Directors was also announced, with Gregory A. Hurst, executive vice president and chief operating officer of Piedmont Healthcare, as Board Chair. Other members include long-time community residents Ron Duffey, businessman and retired banker, and G. Truett Jarrard Jr., M.D. G. Michael Bass, CEO of Piedmont Newnan Hospital, will be added to the Board and also becomes president and CEO of Piedmont Newnan Hospital.

Additional members will be named in the future.

“Michael has done an outstanding job for the hospital and on behalf of the community, and we are very pleased to give him the added responsibility of serving as hospital president,” said Greg Hurst. “We have great confidence in Michael and his leadership team to take us through this period of transition and guide great things to come for Piedmont Newnan Hospital.”

Excluded from the purchase are the Newnan Hospital Health and Fitness Center and Newnan Hospital Nursing and Rehabilitation Center. While Piedmont will enter into a management services agreement for those services, both remain under the ownership of Newnan Hospital, Inc., where Tom Moat continues as Board Chairman.

Moat, who was instrumental in the agreement with Piedmont, said, "This is a day we will all remember. Not only does this acquisition create a stronger healthcare system for the citizens of Coweta County, but it also gives us access to the highest level of healthcare possible right here at home. We look forward to having Piedmont Newnan Hospital as an active part of our community."