Cape Girardeau hospital expands to Dexter | Community Spirit

DEXTER, MO (KFVS) - SoutheastHEALTH announced they are expanding to Missouri Southern Healthcare in Dexter.

According to SoutheastHEALTH, the transaction is subject to due diligence and is expected to close by Dec. 31, 2012. Dexter Hospital, LLC will manage the 50-bed hospital for SoutheastHEALTH during a transition period ending June 30, 2013. SunLink Health Systems, Inc., of Atlanta, Ga. is the parent corporation of Dexter Hospital.

In August, Dexter Community Regional Healthcare Foundation entered into a long-term lease with SoutheastHEALTH to assume operation of the Dexter hospital as lessee from Dexter Hospital. That agreement originally was effective in 2019 with termination of the existing lease term.

"We're pleased that now we can begin our partnership in just a few months," said Wayne Smith, SoutheastHEALTH President and CEO. The new venture, he added, "is consistent with our vibrant growth and our regional strategy to provide high quality, affordable healthcare, close to home."

Dexter Community Regional Healthcare Foundation President Darla Grossman said the Foundation Board "is pleased that SoutheastHEALTH was able to collaborate with Dexter Hospital, LLC to assume the lease prior to 2019. This is an exciting time and we're pleased to work with Southeast as this process continues."

Smith said the sale of the leasehold interest and certain other assets of Missouri Southern was about $9.8 million.

"We are fortunate to be in a very solid financial position," Smith said. "Our net revenues are up by 6.5 percent year over year, we are holding our costs constant and our operating margins are up significantly."

He noted that SoutheastHEALTH's strong financial performance recently allowed a significant price reduction in many of Southeast's imaging services.

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