In the report, Holy Cross CEO Wayne Lerner said the economy and healthcare environment were the big reasons the deal fell through.
“National economic uncertainties have been greatly exacerbated,” Mr. Lerner said in the report. “Cutbacks are hampering state Medicare/Medicaid reimbursements, and slow growth continues to challenge the U.S. economy. Holy Cross Hospital’s potential partnership with Vanguard was a bold, innovative venture that did not work out when economic conditions shifted.”
Read the Chicago Sun-Times report on Holy Cross Hospital and Vanguard Health Systems.
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