Blount Memorial Hospital in Blount County, TN to join Prisma Health
Transaction Announcement
The Blount Memorial Hospital (BMH) Board of Directors and the Blount County Board of Commissioners have each approved entering into a non-binding letter of intent with Prisma Health that provides for Blount Memorial Hospital to become part of Prisma Health later this year. The strategic decision was approved following unanimous votes from both boards. Prompted by population and regional economic growth, the transaction seeks to position BMH as the hub of the Prisma medical enterprise in East Tennessee.
“Prisma Health has a remarkable track record of transforming care and making a meaningful difference in the communities they serve,” said Jonathan Smith, Blount Memorial Hospital Interim Chief Executive Officer. “From our earliest meetings to their final proposal, Prisma has demonstrated a keen interest in helping us build on our recent success and reach our full potential as a regional referral center. We are confident their support will elevate our services, benefit our physicians and staff, and ensure high quality care for our patients long into the future.”
Headquartered in Greenville, South Carolina, Prisma Health is a private nonprofit health company and the largest health care organization in that state. Their network of care delivery locations includes 18 acute and specialty hospitals and more than 300 practice sites. Blount Memorial will become the organization’s first hospital in Tennessee.
“Our goal from the beginning was to provide a successful hospital that our Blount County citizens have pride in. Prisma Health’s impact in their home state of South Carolina has garnered national attention and the respect of the health care industry,” said Ed Mitchell, Blount County Mayor. “They have an impressive history of focusing on and improving community health to ensure all residents they serve can live their healthiest lives. We are honored to welcome Prisma to Tennessee and to Blount County.”
Prisma Health has agreed to invest a minimum of $275 million in capital improvements in the hospital’s service area over the next 10 years, including the implementation of a new electronic health records system (EPIC) and other patient-centered technologies. Prisma has also committed to expanding services and attracting high-quality physicians and clinical experts; maintaining all physician contracts and employing all employees in good standing at the time of close for at least one year, and continuing all essential services for at least 10 years.
Juniper’s Role
Engaged by both the hospital and Blount County, Juniper Advisory proactively assessed strategic alternatives to enhance the system’s reputation as a leading provider of integrated healthcare services. Juniper evaluated partnership options aligned with the system’s objectives of strengthening operational performance, supporting its medical staff and expanding growth opportunities to meet the needs of patients close to home.
Throughout the process, Juniper enabled the system’s Board and management to navigate complex decisions effectively. Juniper initiated and managed a rigorous process to evaluate potential partners, ensuring alignment with the system’s objectives. This included managing a broad range of interest from local, regional and national potential partners; drafting detailed information materials; supporting the Board’s and County Commissioner’s evaluation of alternatives; and assisting with the negotiations of the agreement between BMH, Blount County and Prisma Health.
About Blount Memorial Hospital
Blount Memorial Hospital is a 304-bed acute care hospital in Maryville, Tennessee, which is 20 minutes outside of the Knoxville, Tennessee, area. It has more than 2,700 employees and 200 physicians working in clinical and nonclinical positions in 20 locations in Blount and Monroe counties. Key services include cancer, orthopedic, surgical and cardiac care. The hospital was founded in 1947 through the efforts of local physicians, the county court, interested citizens and employees of the Aluminum Company of America. It is named in honor of Blount Countians who have died in the line of duty, those missing in action, and those who have served and continue to serve our country.
About Prisma Health
Prisma Health is a private nonprofit health company and the largest health care organization in South Carolina. The company has 29,309 team members, 18 acute and specialty hospitals, 2,827 licensed beds, 305 practice sites, and more than 5,400 employed and independent clinicians across its clinically integrated inVio Health Network. Along with this innovative network, Prisma Health serves almost 1.5 million unique patients annually in its 21-county market area that covers 50% of South Carolina.
To learn more, please refer to the Blount Memorial website. For more information about Juniper, contact Brent McDonald at 214.505.4961 or [email protected].
About Juniper Advisory
Juniper is a specialized investment banking firm focused exclusively on non-profit hospital system mergers and acquisitions. The team is generally considered the most experienced in the country advising health systems on business combination transactions for four decades.