(Floyd Medical Center media release):
Two leading health providers in the southeast are joining forces to improve access to high-quality health care in northwest Georgia and northeast Alabama. Atrium Health and Floyd health system finalized a long-anticipated strategic combination today, which will bring Floyd into the larger Atrium Health enterprise.
“This is a historical milestone in the history of both of our organizations” said Eugene A. Woods, president and CEO of Atrium Health. “We look forward to making significant investments in the health of the communities served by Floyd through working with the dedicated leadership team and talented medical community to implement the latest technological advancements, achieve the best clinical outcomes and expand the breath of services we provide.”
Atrium Health, which is headquartered in Charlotte, North Carolina, and the Rome, Georgia-based Floyd health system announced their intent to combine in November 2019. The COVID-19 pandemic slowed the process, however final approval was given for the combination to proceed on July 12, 2021, by the Georgia attorney general’s office.
“What impressed me from the first meeting with Atrium Health’s leadership is how alike we are in our commitment to clinical excellence, service to the community and, especially, a mission that embraces caring for all,” said Kurt Stuenkel, Floyd CEO. “Being part of Atrium Health will allow us immediate access to the best minds and resources of a highly regarded, growing, academic health system that will help ensure quality, accessible health care is available in our community for decades to come.”
Atrium Health has pledged to invest $650 million in capital for Floyd over the next decade to enhance capabilities, skills and talent, facilities and technology. Floyd’s combination with Atrium Health will also result in the creation of a new Floyd-Polk Healthcare Foundation, Inc. When fully funded, it is expected to total more than $150 million in assets. The foundation plans to address disparities in care in the region, among other things, with its investment earnings.
The Floyd health system provides care at 62 locations in northwest Georgia and northeast Alabama and is anchored by the flagship 304-bed Floyd Medical Center, an acute care hospital and regional referral center in Rome. The health system also includes Polk Medical Center, a 25-bed critical access hospital in Cedartown, Georgia; Cherokee Medical Center, a 60-bed acute care hospital in Centre, Alabama; and a freestanding, 53-bed behavioral health center in Rome. Floyd also has eight urgent care sites and more than 20 primary care offices as part of its network.
Floyd is Atrium Health’s second venture into the Georgia market. In late 2018, Atrium Health entered into a similar agreement with Atrium Health Navicent, based in Macon, Georgia. Atrium Health also combined with Winston-Salem, North Carolina-based Wake Forest Baptist Health last year, expanding Atrium Health’s capabilities within academic medicine and research, as Wake Forest School of Medicine became the academic core of the enterprise as part of the combination. With the addition of the Floyd health system, Atrium Health now has 40 hospitals and more than 1,400 care locations across the Carolinas, Georgia and Alabama. Atrium Health employs more than 70,000 teammates.
Stuenkel will remain the CEO of Floyd, and serve on the executive team of Atrium Health, reporting to Woods. Its facilities will still maintain their respective local governing boards, with Atrium Health being allotted two seats on the Floyd Healthcare Management Inc. board of directors. Floyd will also nominate a member to The Charlotte-Mecklenburg Hospital Authority board of commissioners, as well as two members on governance committees for Atrium Health.