Bedford's hospital is officially under new ownership.

Centra Health unveiled a new sign at Bedford Memorial Hospital Tuesday afternoon.  The Lynchburg-based health care provider took full ownership of the facility at midnight Tuesday.

The hospital was previously owned by both Centra and Carilion.  Carlion agreed to sell its 50% share back in January.

Centra's chief executive officer is a Bedford native.  E.W. Tibbs was born at the Bedford hospital and started his career at the facility as a nurse.

"It's very much a mission of Centra and a mission of mine to insure that we have world class health and wellness services here," Tibbs said.  "For my kids and grandkids, and generations that I probably won't see."

Tibbs said Centra will invest millions of dollars into the Bedford hospital over the next five years, to expand the emergency room and upgrade the medical center's appearance.