Knox Community Hospital in Mount Vernon, Ohio, announced that it has signed a non-binding letter of intent to join Western Ohio nonprofit health system Kettering Health to “strengthen local access to care.”
“Throughout this evaluation, our focus has been on finding the right long-term path for Knox Community Hospital and the community we serve,” stated Bruce D. White, president and CEO of Knox Community Hospital. “Kettering Health is a trusted Ohio-based health system that understands our mission, knows the communities we serve and is invested in our shared vision for long-term success. The organization brought forward a strong proposal demonstrating commitment to keeping care local, supporting our physicians and employees, investing in services and technology, and providing a solid platform for future growth and sustainability.”
The hospital’s decision follows a “thorough and deliberate search led by the Knox Community Hospital Board of Trustees and hospital and physician leadership.”
“Every step of this process has been focused on what is best for Knox Community Hospital and the people who depend on it,” said Marc Odenweller, chairman of Knox’s Board of Trustees. “We spent months reviewing proposals, asking questions, meeting with potential partners and evaluating what each organization could mean for the future of care in this community…After careful review, we believe Kettering Health offers the commitment, resources and focus on quality that we were seeking to support and enhance local care for many years to come.”
The two organizations now enter “a period of exclusive negotiation, continued due diligence and alignment planning,” states the hospital, with the transaction awaiting completion of a definitive agreement, regulatory approvals and the meeting of customary closing conditions.
“Knox Community Hospital and Kettering Health expect to work toward a definitive agreement by early fall, with a goal of fully completing the transaction by the end of 2026, pending all legal and regulatory reviews,” stated the hospital. It added that Kettering Health has “agreed to make significant capital investments in Knox Community Hospital’s service area over the 10 years following closing,” including the implementation of a new electronic health records system. If the transaction closes, Kettering Health “intends to offer continued employment to substantially all active Knox Community Hospital employees,” stated Knox.
