Ballad Health purchases remainder of Smyth County Community Hospital ownership

Local

MARION, Va. (WJHL) — Ballad Health and the Smyth County Community Foundation reached an agreement on the ownership of an area hospital, according to a release on Tuesday.

A release from the foundation states that Ballad purchased the remaining 20% ownership of the Smyth County Community Hospital for $33.7 million.

Despite the sale, the Smyth County Community Foundation plans to remain as an independent foundation focused on improving public health within the community, the release states.

One of the foundation’s first initiatives will include a $3-million investment to battle substance abuse in Smyth County through a grant to Appalachian Center for Hope.

“We know there is a correlation between individual health and the social and economic conditions that affect a community,” said Foundation Board of Directors Dr. David Kiser. “As an independent Foundation, we can address the root causes of conditions that contribute to poor community health, engage new resources and be better partners with Ballad Health.”

The release states future investments will revolve around the following:

  • Care and resources for seniors
  • Early intervention solutions to improve health and education for youth
  • Wholistic substance abuse prevention, care and treatment

Moving forward, the foundation will work alongside Ballad Health in addressing public health issues and concerns.

“The Smyth County Community Hospital is one of the strongest performing and highest rated hospitals in Virginia,” said Ballad Health Chairman and CEO Alan Levine. “Health care is changing and improving population and community health is key to our long-term success and ability to deliver care and grow services for the patient population. The hospital will serve this community well into the future, and we look forward to this new partnership with the Foundation to create long-term community impact.”

Further details regarding the foundation’s operation as a private entity will be available in mid-2022.

For more information, CLICK HERE or email smythccf@gmail.com.

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