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Ridgeview Medical Center Takes Over Sibley Medical Center

Ridgeview Medical Center in Waconia, Minn., has assumed the operations of Sibley Medical Center from Arlington, Minn.

According to terms within the lease agreement, the 109-bed Ridgeview created a new nonprofit entity to control Sibley, which is a 20-bed, municipal critical access hospital. The city of Arlington will still own the physical buildings and large equipment, leasing them to Ridgeview's wholly owned entity. Ridgeview now controls daily operations.

Ridgeview has pledged to make certain capital investments, but specific investment areas were not outlined.

Ridgeview and Sibley have had a management contract since 2007. Sibley leaders approached Ridgeview in 2012 to "explore a more integrated relationship," according to a news release.

More Articles on Hospital Transactions:
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