Under the agreement, DHR will help establish a nonprofit board to guide the hospital through an expansion as a short-term health facility, according to the report. The two hospitals expect to complete a definitive agreement in the coming months, according to the report.
MRMC’s financial troubles first surfaced in March 2015 after Standard & Poor’s Rating Service downgraded its rating from “BBB” to “BBB-.” The medical center’s rating was down to “B-“ in May 2016. That same month, several physicians from the board told MRMC staff that DHR and a competitor, King of Prussia, Pa.-based Universal Health Services, had made offers to buy the hospital, according to the report.
The status of these bids remains unclear, according to the report.
Read the full story here.
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