McCullough-Hyde and Mercy will now enter into exclusive discussions concerning the affiliation, according to a news release. McCullough-Hyde officials will consider a variety of relationship models, although they intend to retain local ownership and control. The process will take an estimated six to eight months.
The McCullough-Hyde board began investigating potential affiliations in October 2012. The hospital decided to explore affiliation options to maintain a position of financial strength and prepare for future changes and challenges.
“We are fortunate to be making this decision from a position of strength,” Bryan Hehemann, CEO of McCullough-Hyde, said in the release. “We are financially strong, but being proactive allows us to take our future into our own hands. Maintaining a strong local health system has always been and will remain our mission. A relationship with Mercy Health will only reinforce that charge.”
More Articles on Hospital Affiliations:
Antitrust Settlement Allows Faxton-St. Luke’s Healthcare, St. Elizabeth Medical Center to Affiliate
Massachusetts Commission to Study Lahey Winchester Hospital Affiliation
Health System Collaborations Rise in Popularity
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
