Phoebe aims to buy medical practice - WALB.com, Albany News, Weather, Sports

Phoebe aims to buy medical practice

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By Karen Cohilas - bio | email

November 21, 2008

ALBANY, GA (WALB) - Phoebe Putney Hospital is planning to make a purchase of a major medical practice in Albany. Friday, Hospital board members voted to buy Albany Gastroenterology and the adjoining endoscopy center.

In all, it's more than a $12 Million purchase.  Phoebe CEO Joel Wernick said, "There is an ongoing trend of physicians seeking the stability of affiliating with hospitals. This happens all over the country and is seemingly growing more and more and more."

The six gastroenterologists and 26 staff members will become employees of the hospital.

According to tax records, almost $18,000 in annual property taxes will be removed from the tax roll when Phoebe buys the practice.

As a not for profit hospital, Phoebe is exempt from paying property tax.

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