The Community Medical Center of Izard County (CMCIC) has completed its sale to Izard County Medical Center, LLC, a subsidiary of Americore Health. The newly-formed limited liability corporation has acquired substantially all of CMCIC’s assets, including the 25-bed critical access hospital located in Calico Rock. The hospital will be renamed the Izard County Medical Center (ICMC).
“This is wonderful news for our community, patients, physicians and staff,” said ICMC Chief Executive Officer Kim Skidmore, who will remain in that role. “Our hospital has been serving this community since 1952, and our partnership with Americore Health ensures that we will continue being able to serve for decades to come.”
Americore Health is led by Grant White, a former investment banker and CEO who has significant experience completing transactions in the healthcare sector, with more than $30 billion of transaction experience. This is the first hospital acquired by Americore Health, which has already established a network and team of experts to manage and optimize rural hospitals like ICMC.
“This partnership between ICMC and Americore Health is a prime example of what we’re trying to accomplish in rural communities across the country,” said White. “ICMC is a true community hospital that Izard County has relied on for a long time. Unfortunately, the hospital, like many other rural hospitals, was weighed down by debt, despite its otherwise positive operating financial position. We have already made significant headway on those liabilities and look forward to a bright future for ICMC.”
The hospital will continue offering the same services and all staff have been retained. Over the coming months, Americore Health will be implementing its innovative business model to drive significant new revenue and profitability to the hospital while preserving the community-centric focus and high level of care that ICMC has established over the last 65 years.
