Richmond-based Reid Health has entered into an agreement to acquire a substantial portion of the assets of Fayette Regional Health System of Connersville. The announcement comes after Fayette Regional filed for protection under Chapter 11 in October 2018. Specific terms will be disclosed in the bankruptcy case and will include a $12.75M payment to the bankruptcy estate of Fayette. The deal requires bankruptcy and regulatory approval and is expected to be finalized in mid-July this year.
Reid Health currently offers primary, specialty and urgent care, along with lab services in Connersville. Fayette Regional President and Chief Executive Officer Randy White has pledged support for the transition.
"Reid Health is a known entity in our community, and we look forward to working with them through this transition," White said. "I want to thank our talented team of employees, nurses, and physicians for continuing to provide our patients with an exceptional experience during this time."
Reid Health leaders expect to discuss transition details at Fayette Regional in the coming weeks.
"Moving forward, we’ll be taking into consideration the unique demographics of Connersville and the surrounding communities, sustainable clinical resources, and the viability of the facilities," Reid Health President and CEO Craig Kinyon said. "Ultimately, we’re committed to offering high-quality healthcare services in the community."
Fayette Regional was founded in 1913 and employs approximately 450 at its campus and ancillary locations.