Here are five things to know about the merger.
1. Under the merger, a newly formed entity governed by a board within the AAF will oversee HRMC’s duties, according to the report. The board will comprise members of the HRMC and AAF boards of directors.
2. Marvin Franz, executive director and CEO of HRMC, plans to leave his post and assume an executive position at a local bank as soon as the merger takes effect.
3. The merger is not the first time HRMC and AAF have partnered. A partnership between the two operated until 1984, when HRMC became an independent entity dedicated to the development of a massive medical campus in Amarillo, according to KFDA-TV.
4. In the report, Mr. Franz predicted the merger is going to be a positive thing for the further development of Amarillo’s medical complex. He noted the area foundation “will provide more grant opportunities.”
5. The merger will take effect at the end of 2015.
More articles on healthcare transactions and partnerships:
Johnson Memorial Medical Center sale gets state approval: 7 things to know
6 things to know about the proposed Providence, St. Joseph merger
Mayo’s Florida operation ends deal with Satilla Health Services: 3 things to know
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