Seton Family of Hospitals announced Monday it would not acquire the assets of King's Daughters Hospital from Scott & White Healthcare.

With the announcement, Scott & White will move forward with its plans of turning KDH into a children's hospital.

"We're very excited the last barrier has been removed to us converting King's Daughters Hospital into a children's hospital," said Dr. Alfred Knight, Scott & White CEO and president.

It will take some months to get plans together and undoubtedly there will have to be some renovations, Knight said. More definitive plans should be ready in the next three to four months.

Earlier in the year, Scott & White went from talking to King's Daughters Hospital about forging a partnership between the two medical facilities to planning a children's hospital at the KDH facility.

In October, the Federal Trade Commission ruled the plans anticompetitive. In an agreement with the FTC, Scott & White offered the KDH assets for sale to Seton. If Seton rejected the offer, Scott & White would retain the assets.

On Monday that offer was rejected.