NEW ORLEANS – LCMC Health announced the finalization of the acquisition of East Jefferson General Hospital after 95 percent of Jefferson Parish voters expressed their approval of the deal in an August election.
Under the terms of the agreement, LCMC Health will pay a guaranteed purchase price of $90 million for East Jefferson General Hospital and its operations and will invest $100 million over the next five years. The acquisition allows East Jefferson General Hospital to pay off its current bond debt and satisfy all other outstanding financial obligations. It also ensures the longstanding job security of the hospital’s nearly 3,000 employees.
“East Jefferson General Hospital becoming part of the LCMC Health family ensures the residents of Jefferson Parish will continue to receive high quality health care,” said Greg Feirn, LCMC Health CEO. “Receiving the overwhelming approval of the voters was a testament to East Jefferson’s commitment to the well-being of our community and we look forward to all we accomplish together in the years to come.”
“East Jefferson General Hospital will continue to bring an unmatched level of health care to the residents of Jefferson Parish, now with the support of a large, locally-operated hospital system,” said Gerald Parton, EJGH President and CEO. “This partnership ensures the continuation of our legacy and the retention of thousands of jobs for some of the finest health care workers in the region.”
EJGH joins LCMC Health’s five other hospitals, which include Children’s Hospital New Orleans, New Orleans East Hospital, Touro, University Medical Center New Orleans and West Jefferson Medical Center. Joining LCMC Health gives EJGH patients, doctors and staff access to an extensive network of services and resources, while offering patients the opportunity to continue to see their regular care teams and physicians.
“The sale of East Jefferson General Hospital to LCMC Health ensures that future generations will be cared for at the same outstanding facility residents of Jefferson Parish have been visiting for decades,” said Jefferson Parish President Cynthia Lee Sheng. “Children will continue to be born at the same hospital as their siblings, parents and even grandparents and the legacy of the beloved establishment will continue for years to come.”
