Aurora, Colo.-based UCHealth will invest nearly $200 million into Pueblo, Colo.-based Parkview under the pending deal, including a donation of $5 million to the Parkview Foundation to establish a long-term fund for patients, the community and the hospital. The systems noted that Parkview’s 3,000 employees will retain their positions, with their current benefits staying in place “for the foreseeable future.”
Parkview was established in 1923 and operates as an independent, nonprofit for acute healthcare and behavioral health specialty services. The system’s Parkview Medical Center is licensed for 350 acute-care beds.
“It’s no secret that Parkview Health System has faced financial challenges, especially during the COVID-19 pandemic,” Parkview Health System President and CEO Leslie Barnes said in a news release. “Among Colorado hospitals, Parkview has one of the highest percentages of patients covered by Medicare and Medicaid with about four out of every five patients being covered by a governmental provider. This, combined with the current economic environment, is challenging the future of the hospital. Joining UCHealth will provide new resources and long-term stability for Parkview’s patients, staff, providers and the broader community, while allowing us to continue caring for underserved patients in our community.”
UCHealth and Parkview expect their final agreement to take effect in mid-2023.
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