JACKSON, Miss. (WTVA) -- The University of Mississippi Medical Center is set to take over operations at Grenada Lakes Medical Center on September 1.
The state College Board approved a deal to allow UMMC to lease the 156 bed-facility from the Grenada County Board of Supervisors.
Under the agreement, UMMC will pay the county $1.8 million annually to retire GLMC's $37.4 million debt.
The 20-year lease goes into effect on January 1, 2014, and inlcudes three optional 10-year extensions.
During the interim, a committee will work to transition the hospital and its operations to UMMC models.
GLMC workers will also be transitioned to UMMC employees.
Grenada Lakes Medical Center employees 400 full-time and 50 part-time employees.