Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

St. Joseph's Hospital Health Center signs preliminary agreement with unnamed health system

Syracuse, N.Y.-based St. Joseph's Hospital Health Center has signed a non-binding preliminary agreement to join a large unnamed nonprofit health system, according to a Syracuse news report.

If the deal were to be completed, it would support the hospital sustaining its mission "through access to the proposed affiliate's intellectual and infrastructure resources," the hospital revealed in its unaudited 2014 financial results.

The news comes as the hospital reports an operating loss of about $21.7 million for the year ending Dec. 31, 2014. In the report, the hospital attributes the loss primarily to one-time costs associated with a new EHR system installed last year, as well as depreciation and interest expenses related to construction.





More articles on hospital transactions and valuation issues:

UPMC, Jameson Health approve definitive merger agreement

CVS: No tobacco, but more healthcare partnerships

Healthcare deals up 24% in January



© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers