Porter Medical Center to sign letter of intent with University of Vermont Health Network

Officials from Middlebury, Vt.-based Porter Medical Center and Burlington-based University of Vermont Health Network unanimously voted to sign a non-binding letter of intent to negotiate a potential partnership. The vote took place Oct. 5.

Advertisement

According to officials, the letter of intent is non-binding. The formal negotiation process is expected to last roughly six months. PorterMedicalCenter will have the option to remain independent during negotiations.

The organizations could reach an agreement that would begin an affiliation as early as the spring of 2017.

“I look forward to the discussions that can bring PorterMedicalCenter into the UVM Health Network,” said John Brumsted, MD, president and CEO of UVM Health Network. “Working together with PorterMedicalCenter providers, staff and leadership the opportunity, through collaboration, to improve access to health care and specialized services, and contribute positively to the overall health of the AddisonCounty community.”

More articles on transactions and valuations:
5 things to know about freestanding emergency departments
Chinese billionaire claims he does not want to control CHS
Philadelphia Eagles’ Carson Wentz partners with Sanford Health

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

Advertisement

Next Up in Transactions & Valuation Issues

Advertisement

Comments are closed.