“Based on the results from the due diligence process, we will continue to work with SMH on the findings and how they impact our next steps,” Phelps Health CEO Jason Shenefield said in a Dec. 16 news release shared with Becker’s. “Representatives from Phelps Health and [Salem Memorial] have collaboratively identified some areas that must be worked through to move forward.”
Phelps Health has shared definitive agreements with Salem Memorial, which outline the proposed transaction in detail and negotiate the terms and conditions. While the contractual agreement is in the review phase, determining when an affiliation may occur remains up in the air.
“Currently, a timeline remains unclear because of the current contract negotiation and the follow-up items identified during the due diligence process,” Salem Memorial CEO Brooke Bollman said.
Leadership teams from both organizations are working to reach a mutually beneficial agreement. Keeping accessible healthcare in the community remains a top priority.
“If everything comes together as we intend, this potential affiliation could create a sustainable future for rural healthcare and Dent County,” Mr. Shenefield said.
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.