The three facilities proposing the affiliation are Manchester, N.H.-based Catholic Medical Center, Wolfeboro, N.H.-based Huggins Hospital and Peterborough, N.H.-based Monadnock Community Hospital. The resulting parent entity would be called GraniteOne Health.
Under the affiliation, all three facilities would keep their own assets, board of trustees and liabilities.
Monadnock’s is at a break-even point and could face losses under a shift toward value-based Medicare reimbursements, a hospital board chairman told the Union Leader. In addition, Huggins’ finances are stable but fewer patients are being admitted, according to the report.
Monadnock began requesting partnerships in spring 2015, and three facilities submitted proposals. In October 2015, Monadnock inked an agreement with Catholic Medical Center, and a month later CMC said it would affiliate with Huggins. In February all three hospitals began affiliation discussions.
CMC currently provides cardiology and vascular treatment to Monadnock and Huggins patients, according to the report.
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