» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 132 | NO. 120 | Friday, June 16, 2017

Ole Miss Buys Baptist Hospital in $22 Million Deal

By Bill Dries

Print | Front Page | Email this story | Email reporter | Comments ()

Ole Miss is buying Baptist Memorial Hospital-North Mississippi for $22 million, the university announced Thursday, June 15.

Baptist Memorial Health Care reached the purchase and sale agreement with the University of Mississippi as it builds a new acute care facility that is one of the largest economic development projects ever in Lafayette County.

Baptist has a lease-back option in the agreement announced this week that allows it to remain in the existing hospital at 2301 S. Lamar Blvd. until the new hospital opens in November. The new hospital is located on an extension of Belk Boulevard between South Lamar and Old Taylor Road.

“The purchase of this property allows us to provide improved space for our support units and other functions that serve external constituencies,” said Ole Miss Chancellor Jeffrey Vitter in a written statement. “It will also be a major factor in helping us effectively address our capacity for future growth.”

The site Ole Miss is buying covers 15 acres and includes a 428,000-square-foot building, a 670-space parking garage and additional surface and underground parking.

The purchase agreement goes to the city of Oxford and Lafayette County next. Each has a right of first refusal on the property. The Mississippi Board of Trustees of State Institutions of Higher Learning approved the agreement Thursday.

“Throughout this process, our top priority was finding a new owner that would use the property for a cause that would benefit our city, and we believe the university is a perfect choice,” said Bill Henning, administrator and CEO of Baptist-North Mississippi. “We look forward to seeing how the university will transform the facility and the positive impact it will have on our community.”

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 223 16,103
MORTGAGES 62 207 18,599
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 323 32,794
BANKRUPTCIES 66 187 10,687
BUSINESS LICENSES 28 86 5,172
UTILITY CONNECTIONS 37 127 11,344
MARRIAGE LICENSES 15 75 3,848

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.