Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Carilion completes purchase of Stonewall Jackson Hospital for $10.9M

Carilion completes purchase of Stonewall Jackson Hospital for $10.9M

To be renamed Carilion Rockbridge Community Hospital

Published July 27, 2020 by Sydney Lake

Carilion Rockbridge Community Hospital. Photo courtesy Carilion
Carilion Rockbridge Community Hospital in Lexington. Photo courtesy Carilion Clinic

Roanoke-based Carilion Clinic announced Friday it has completed the purchase of Lexington’s Stonewall Jackson Hospital from the SJH Community Health Foundation. This was the final 20% — valued at $10.9 million — left for Carilion after its initial 2005 investment.

With the purchase comes a new name, Carilion Rockbridge Community Hospital.

The health care system originally acquired 80% ownership of the hospital 15 years ago and took over its management in 2006. Carilion has invested more than $25 million in operations, capital improvements and clinical services, which will increase to more than $36 million after buying the final 20% stake. 

“Today’s announcement marks the beginning of the next chapter in the 15-year partnership between Carilion and the SJH Community Health Foundation,” Dr. Richard Teaff, chair of the hospital’s board of directors, said in a statement. “This arrangement will allow Carilion to simplify management of the hospital, and it will enable the foundation to focus significant resources on our neighbors’ health care needs.”

“The heart of a community is, in many ways, its hospital — especially in close-knit communities like Lexington, Rockbridge County and Buena Vista,” Carilion President and CEO Nancy Howell Agee said in a statement. “We’re grateful for the community’s support these last 15 years, and we want the community to know that we support them too.”

When asked whether the name change was influenced by a recent influx of renaming of buildings named after Confederate officers and removal of monuments, Carilion spokesperson Christopher “Chris” R. Turnbull said it was coincidental. 

“Regardless of the societal debate going on right now, we would have been announcing this investment in the community and an updated name,” Turnbull said. “This is the culmination of a two-year process between Carilion and the SJH Community Health Foundation. We’re making this change now because we own 100% of the hospital, and with that, it should align with the naming convention we use for all other Carilion facilities, emphasizing the region the facility serves. 

“This process involved significant due diligence and a valuation exercise — just like any other business transaction would. And it has resulted in a significant investment in the health of this community.”

The SJH Community Health Foundation also plans to donate $1 million to renovate operating rooms at the hospital.

“Compassionate care for our patients has been our top priority since we arrived,” Greg Madsen, the hospital’s vice president and administrator, said in a statement. “We’re renewing our commitment to being here — through purchasing the remaining share of the hospital, investing further in our employees, technology and services, and writing the next chapter in the hospital’s legacy of service to this region.”

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Related Stories

Virginia Business logo

SW Va. sees COVID increase; governor urges caution

State will add $30M to Rebuild VA fund

Virginia Business logo

Two Sentara hospitals receive high marks for their nursing staffs

Dr. Paul Skolnik, Carilion's chair of medicine.

Coronavirus spreads to Southwest Virginia

A Botetourt County woman in her 80s is in serious condition at Carilion Roanoke Memorial Hospital.

Trending

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Rivers Casino Portsmouth opens to big crowds

Framatome CEO retiring; CFO to be promoted

Va. bill aims to reduce mental health stigma for health care workers

Former EAB buildings in Henrico sell for $5.35M

Sponsored Stories

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

Dollar Tree CEO resigning; former Dollar General CEO to replace him

Rivers Casino Portsmouth opens to big crowds

Framatome CEO retiring; CFO to be promoted

Va. bill aims to reduce mental health stigma for health care workers

Former EAB buildings in Henrico sell for $5.35M

Sponsored Stories

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk