The organizations’ five-year M Health agreement will auto-renew in June 2018 unless either party opts out by June 1, 2017. Officials said they hope to negotiate a better deal, one including better financial targets, funds to update facilities, more clinical trials and staff training sites and simpler contracts for FHS, according to the article.
FHS has been an affiliate of the university since it sold the hospital in 1997. The organizations’ relationship became more finite with the creation of the 2013 M Health agreement, which officials reportedly believed to be the precursor to a definitive merger agreement. However, negotiations between the two institutions regarding the merger issue broke down last summer, according to the article.
More articles on transactions and valuations:
LCMC Health acquires Fairway Medical Center
University Hospitals to join regional trauma network including Cleveland Clinic, MetroHealth
State approves merger of 2 UMass hospitals
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