The organizations will enter into a period of due diligence to outline a plan toward a definitive affiliation agreement.
Cortland Regional officials spent 20-plus months searching for an affiliate. The hospital began its search for a partner in October 2016 and sent a request for proposals to interested parties in December 2016.
Cortland Regional Medical Center President and CEO Mark Webster said Guthrie already pledged a $41 million commitment to improve CRMC’s technology infrastructure.
Officials did not reveal a timetable for the completion of the due diligence period. The exact financial terms of the deal were also not disclosed.
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