ATLANTA — Ty Cobb Regional Medical Center (“Ty Cobb”) completed the sale of its 56-bed hospital to Trinity Health’s affiliate, St. Mary’s Health Care System, Inc. (“St. Mary’s”), effective June 1, 2015. The hospital has been renamed St. Mary’s Sacred Heart Hospital. Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as exclusive financial advisor to Ty Cobb, leading the sale process to conclusion.
“This is a banner day for Franklin, Hart and Stephens counties, and for all of Northeast Georgia,” said Diane Toney, chair of the newly-formed Sacred Heart Hospital Board of Directors. “St. Mary’s is one of the most highly respected, multi-hospital systems in Georgia. They bring unprecedented levels of quality, best practices, supply system leverage and financial stability to healthcare in our community. Our hospital is in good hands.”
Facing the extreme challenges impacting rural healthcare in a state that has not expanded Medicaid and a complicated debt structure, Ty Cobb engaged H2C in May 2014 to assist in evaluating its strategic options related to partnership opportunities. H2C executed a broad, competitive process to maximize value to existing stakeholders and ensure that the Hospital would be well positioned to continue providing healthcare to the northeast Georgia communities of Lavonia, Gainesville, Toccoa, Hartwell, and Royston. Once St. Mary’s was selected, H2C assisted Ty Cobb in negotiating and finalizing the terms of the sale.
“H2C was instrumental in running a competitive process, reaching out to a broad universe of potential partners,” said Greg Hearn, former CEO of Ty Cobb. “H2C’s involvement was critical to the success of the transaction and ensuring that our stakeholders thoroughly understood all of our options and helping us secure the best outcome.”
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