wpostServer: http://css.washingtonpost.com/wpost
Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery 04.17.14
    When a company has legal problems, what does it mean for investors?  What does Yelp’s case before the Virginia State Supreme Court mean for Google and TripAdvisor?  And what does Adam Carolla’s legal battle mean for the future of the MarketFoolery podcast?  We tackle those questions and the exciting world of space law with Assistant General Counsel Chris Harris.
  • MarketFoolery: 04.16.2014
    We analyze the world of digital media, including Pandora, iTunes Radio, Spotify with Audiam CEO Jeff Price.  Plus, Jeff discusses how Netflix, Amazon, and many more are fighting in the “Battle for the Living Room”.
  • MarketFoolery 04.15.14
    We discuss the energy industry landscape, including Big Oil, natural gas, solar stocks and more with analyst Taylor Muckerman.  Plus we look at Chesapeake Energy one year after Aubrey McClendon left the CEO office.    
Capital Business
Posted at 12:30 PM ET, 07/30/2012

MedStar to acquire Southern Maryland Hospital Center in Prince George’s County

MedStar Health announced on Monday that it will acquire Southern Maryland Hospital Center in Prince George’s County by the end of this year.

Founded in 1977, Southern Maryland Hospital Center, in Clinton, has a 238-bed acute care medical center and receives more than 17,000 in-patient admissions and 65,000 emergency room visits annually. About 550 physicians and more than 1,200 staff work there.

Its leaders recently began discussing a regional partnership that would allow it to serve hundreds of thousands of more patients in Calvert, Charles, Prince George’s and St. Mary’s counties.

For MedStar, Southern Maryland will be its 10th hospital, joining the likes of Washington Hospital Center and Georgetown University Hospital, and its seventh in Maryland.

MedStar says the acquisition will provide the hospital with the capital needed for new construction as well as with access to clinical services, technology, clinical trials and other services. Kenneth A. Samet, MedStar president and chief executive, issued a statement saying that doctors at the two organizations have a long history of working together.

Michael Chiaramonte, chief executive of Southern Maryland Hospital Center, said MedStar shared his commitment to providing “the highest quality medical and surgical care for the residents of Prince George's County and Southern Maryland.”

“We were honored to receive such a wide range of interest from leading regional and national health care systems. After careful consideration, MedStar Health is the right organization to entrust with the expansion of the hospital and the legacy of my father’s work,” he said.

As the Washington area continues to experience rapid growth, competition between major hospital providers has tightened. Holy Cross and Adventist HealthCare have battled over state approval for proposed hospitals in Germantown and Clarksburg, respectively.

Inova, headquartered in Falls Church, has begun discussing a collaboration with Children’s National Medical Center.

And Baltimore-based Johns Hopkins Health System made perhaps the biggest splash in recent years when it elected to acquire Sibley Memorial Hospital in 2010. In April, the hospital announced that Hopkins executive Richard “Chip” Davis would become Sibley’s new president.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  12:30 PM ET, 07/30/2012

Tags:  MedStar Health, Southern Maryland Hospital Center, health care, Prince George's County

 
Read what others are saying
     

    © 2011 The Washington Post Company