This past October, Franciscan Missionaries of Our Lady Health System, based in Baton Rouge, La., decided it would no longer manage St. Bernard Parish. Under its financing agreement with Goldman Sachs, St. Bernard Parish had to be run by a third party.
However, St. Bernard Parish interim CEO Wayne Landry said Goldman Sachs officials have altered the agreement, saying the hospital now has the “right to self-manage,” according to the report. However, the hospital must undergo a nationwide search for a new CEO, and a consultant must be hired to narrow down the top three choices.
St. Bernard Parish cost $70 million to build and has 40 beds, as well as a 10-bed emergency department. The hospital replaced Chalmette Medical Center, which was damaged by Hurricane Katrina in 2005.
More Articles on Hospital Transactions:
Trends, Tricks and Trip-ups in Non-Profit Hospital Transactions
Summa Health System to Partner With Catholic Health Partners
HMA Finalizes Joint Venture With Bayfront Health System in Florida
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.
