Bryan Bertacchi, utility director and board chairman at Sitka Community Hospital, said the hospital’s reason to participate in a merger instead of a joint venture is purely financial. If the hospital pursued other management models, the city of Sitka would be responsible for funding $2 million in startup costs and would hold a minority stake in the joint-ventured entity, exposing the city to financial risk, according to the article.
The hospital board approved a letter of intent for the hospital to integrate operations with Mt.Edgecumbe Hospital, a member of SEARHC, in December.
More articles on transactions and valuations:
Catholic Health Systems asset merger still not complete 5 years later
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Allina Health, HealthPartners expand existing alliance
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