The Salinas Valley hospital board unanimously voted to reject the merger after its steering committee recommended against the affiliation.
According to the report, the following factors contributed to the decision: challenges posed by Natividad’s demands for rapid cost-cutting, uncertainty surrounding state legislation required for the partnership and Natividad’s failure in meeting affiliation requirements. Some of those requirements included allowing Salinas Valley Memorial to retain decision-making power, contributing $75 million in capital investments over the first five years and honoring current union contracts, according to the report.
While Salinas Valley Memorial decided not to pursue a partnership at this time, the board members did not rule it out for the future, according to the report.
More Articles on Salinas Valley Memorial Hospital Merger:
Salinas Valley Memorial Healthcare May Not Affiliate With Natividad Medical Center
Natividad Medical Center Sends Salinas Valley Memorial Letter Of Intent
Salinas Valley Memorial Extends LOI Submission Deadline for HCA, Natividad Med Center
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