As part of the affiliation, TriHealth will have a 60 percent membership interest in McCullough-Hyde. The hospital will remain a nonprofit, tax-exempt organization.
“For two years now, our Board has worked hard to find the right path for our hospital in this time of unprecedented change in the healthcare industry,” said Richard Norman, chairman of McCullough-Hyde’s board of directors. “We strongly believe an affiliation with TriHealth is that path.”
Once TriHealth and McCullough-Hyde enter into a definitive agreement, TriHealth will make a $17 million commitment to the hospital, including $9.5 for an information technology system and $3.5 million to expand clinical services.
The two organizations hope to finalize details of the affiliation by Jan. 1, 2015.
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