The West Virginia hospital plans to join the Mountain Health Network under an agreement involving a $39 million investment over the next five years, health officials said.
The agreement, announced Thursday, is the first step for Pleasant Valley Hospital in Point Pleasant to be acquired by Cabell Huntington Hospital and allow the 101-bed non-profit hospital to become part of a healthcare network that also includes St. Marys Medical Center in Huntington, according to Mountain Health. in the news release.
Pleasant Valley already entered into a management services agreement with Cabell Huntington in 2013.
Under the latest agreement, Cabell Huntington will invest $25 million in Pleasant Valley. This includes updating its information technology platform, refurbishing the emergency department, additional physician recruitment, and residency training programs for physicians in partnership with Marshall University’s Joan S. Edwards School of Medicine and Marshall Health.
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In addition, Pleasant Valley will contribute approximately $14 million, which Cabell Huntington will use to fund major renovation projects at the hospital, the statement said.
“With so many positive developments in and around Mason County, it is time for Pleasant Valley Hospital to take the next step with the Mountain Health Network to advance our future in caring for our community,” said Pleasant Valley Chairman Peter Allinder. statement.
Mountain Health CEO Kevin Yngling said the purpose of the agreement is to provide access to advanced medicine and compassionate care for residents served by Point Pleasant Hospital from West Virginia and Ohio.