Sumner Health has also said that it is “evaluating unsolicited offers from ‘interested parties’ covering a wide range of other strategic alternatives,” according to the report. Among the rumored interested parties is HCA’s TriStar Health System. Any sale of all or part of the system would require approval from the Sumner County Health Commission.
The sale of properties comes after 137 employees were laid off and Sumner Health closed some operations, according to the report. Officials have blamed the system’s financial troubles, which include a $24.2 million operating loss for fiscal year 2008, on management’s overstating of net revenues, which affected cost controls.
Read the Tennessean’s report about Sumner Health’s financial concerns.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
