Full financial details of the transaction were not disclosed, although a news release said MaineHealth will invest $1.5 million over two years to implement a new ambulatory electronic health record system. Memorial Hospital will become the 12th member hospital of MaineHealth, effective Jan. 1, and the first out-of-state hospital in the network. Memorial Hospital is roughly 10 miles away from the Maine border.
MaineHealth will control the hospital’s budgeting, services and assets. Memorial Hospital CEO Scott McKinnon, who called MaineHealth a “good fit” for the hospital and community, will continue to run the day-to-day operations of the 25-bed critical access hospital along with his senior leadership staff.
Memorial Hospital and MaineHealth agreed to a deal earlier this year after more than a year of negotiations. In 2012, a Memorial Hospital trustee resigned in protest over the proposed partnership with MaineHealth, saying the hospital rushed into a transaction and did not hold conversations with other providers in the area.
More Articles on Hospital Transactions:
Allegiance Health to Become Affiliate of University of Michigan Health System
Galichia Hospital Group Assumes Management of Kentuckiana Medical Center
Nebraska Hospitals Seek to Form Cost-Saving Network
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.
