Details Emerge on Asante Health, Ashland Hospital Merger in Oregon
report by the Ashland Daily Tidings.
If approved, the city-owned hospital will work to create a definitive agreement within two to three months, according to the report.
Among the terms of the agreement would be $10 million in capital improvements from Asante. Asante would also be required to run the hospital as a general hospital for a set number of years or pay a fine between $4 million and $8 million. Asante would be expected to attempt to employ all current hospital employees, if possible, but would not need to guarantee employing all of them as part of the agreement, according to the report.
Ashland Community Hospital lost $2.5 million last fiscal year due to a high Medicare and Medicaid payor mix and uncompensated care. Previous merger talks with San Francisco-based Dignity Health failed after the public decried would-be restrictions on contraception and end-of-life services, according to the report.
More Articles on Hospital Acquisitions:Bankrupt Bamberg County Hospital in SC Prepares for Proposed HCA Buyout
Revamping Physician and Payor Relationships: 3 Hospital Leaders Respond
Jefferson Regional Medical Center in Missouri Officially Joins Mercy
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
New from Becker's Hospital Review