Trinity sold the hospital to Traverse City, Mich.-based Munson Healthcare, and Munson officially assumed control of Mercy Hospital Cadillac in February. However, the philanthropist’s fund was not included in the sale.
Trinity will manage the fund and disperse monies for the hospital, which goes against the wishes of the family of the fund’s principal donor, Harvey Pell, according to the report.
The family was angered by the decision, as they wanted the funds to be transferred to the Cadillac Area Community Foundation.
“Trinity Health will continue to honor the late Harvey Pell’s intent for the funds, acting in the hospital’s best interest, as it has for many years,” Trinity said in an emailed statement to Cadillac News.
More articles on healthcare finance:
Hospitals’ uncompensated care costs fell by $7.4B last year
Subsidies are central part of PPACA’s success, GAO says
Details on Banner Health’s $86M facility in Colorado released