Karmak & CAH&C Agree to Building Purchase

Karmak and Carlinville Area Hospital & Clinics are pleased to announce their agreement for the transfer of ownership of the current Karmak location at 1 Karmak Plaza, including the building and surrounding property, to Carlinville Area Hospital & Clinics. The agreement is currently pending regulatory and financing approvals, which are expected to be cleared later this year. This strategic acquisition is expected to significantly enhance CAH&C’s operational capacity by providing the square footage required for further expansion of outpatient and clinic services provided to the region for years to come. The purchase also aligns with Karmak’s vision for their current work environment, as they grow and expand their company.

“We believe the Hospital is the right steward for our building and property,” said Jim Allen, Karmak CEO/President, “Their vision aligns with the future potential of this property and community, and we are confident they have the resources to preserve the property now and into the future.” He went on to say, “Karmak is deeply connected to the Carlinville community, and we will continue to lease space at 1 Karmak Plaza. Our business is experiencing great success and this partnership with the CAH&C will allow for that to continue.”

“This purchase allows us to further our strategy of expanding and growing local healthcare services,” said Brian Burnside, CAH&C’s President/CEO, “The addition of this building and property to our portfolio will enable us to continue to provide expert care locally, expand our operations, and consider strategic partnerships for service development. The use of this property will allow us to alleviate space constraints currently being experienced at the main campus in the most cost-effective manner.”

Karmak will continue to operate as a leader in their industry just in a more innovative way to meet today’s environment for technology companies. “During COVID, our company was forced to work remotely for a period of time, and it worked very well with today’s technology,” stated Jim Allen, “The nature of our business now requires a smaller physical footprint. We have such a beautiful building and location that we want to see it maximized to its full potential. We believe CAH&C will do that well.”

CAH&C is committed to the preservation of this property, so it continues to be an asset to the community with the intention of including community spaces available for meetings, events, and activities amidst the clinical services that will be provided at the location. The new property will also enhance their current facility portfolio across Macoupin County including Girard, Gillespie and Virden. This property acquisition will allow CAH&C to continue to maintain its financial resources and continue its work at enhancing the healthcare experience for patients across the region.

Both companies are completing customary closing and regulatory processes and expect the sale to be finalized by the end of 2024.

Posted in News on Jul 31, 2024