Conway Regional Health System said Thursday that it had acquired Conway Orthopedic & Sports Medicine Center.
Conway Regional Spokeswoman Rachel Tucker said, after a third-party fair market evaluation, the hospital paid $4.6 million for the building.
"Partnerships are what make our community successful and organization stronger," Conway Regional President and CEO Matt Troup said in a news release. "After a long-standing relationship with the Conway Orthopedic & Sports Medicine Center, this is an exciting opportunity to come together and enhance orthopedic access.
"The dedicated physicians and staff of COSMC have built an extremely reputable practice, and we are honored to align our two institutions as we continue our mission to provide high-quality, compassionate care."
Conway Regional will now manage and oversee all operations of the orthopedic center, at 550 Club Lane. The doctors who practice at and will remain at COSMC are Scott Smith, Tod Ghormley, Jay Howell, Grant Bennett, James Head and Rick McCarron and Glenn McClendon, D.P.M.
"Over the past several years, we have been approached by many hospitals and orthopedic groups seeking to partner with our organization," Smith said in the news release. "In evaluating the landscape and what will ensure our long-term success, we have chosen to partner with Conway Regional. This exciting partnership will strengthen us as an organization, expand our reach in the community, and enhance patient experience."
COSMC offers a range of services including specialized care for the hand, upper extremity, foot and ankle; minimally invasive surgeries of the knee and hand; total hip, knee and shoulder replacements; and sports medicine.
All services will remain in operation, and patients will continue to see their physicians, the hospital said.
The center currently employs 62 people, Tucker said. COSMC physicians and staff will become Conway Regional employees, and the center will retain its name and location.