San Angelo Community Medical Center and Shannon will continue to operate as separate and independent organizations, serving the community just as they have for many years. The signing of the agreement and announcement of the proposed acquisition marks the beginning of a regulatory review process that is expected to conclude in 2020.
With due diligence complete and the Asset Purchase Agreement between Shannon and Community Health Systems signed, we are focusing on finalizing the details of our application for Certificate of Public Advantage from the State of Texas. The application will outline to state regulators and the benefits we believe will result from our proposed acquisition of San Angelo Community Medical Center, as well as the commitments we are making to our community.
At this time, we do not have an estimate as to how long the process will last; we are still working to ensure our plans will provide the greatest benefit possible for our community. We look forward to working with state regulators as they consider our application.
We’re committed to keeping our community informed as we move through this process, and there will be many opportunities to stay updated along the way.
We are thankful and humbled by all of the support we have received from the community so far, and it’s clear to that our community believes in the vision for the new hospital as much as we do.