Business Roundup: Tenet's Vanguard Buyout Raises Bar for Independent Hospitals
"As board members, our top priority is to ensure the long-term sustainability of our organization so we can continue to provide healthcare services of the highest quality well into the future," Stanly board chairman Larry Baucom said in prepared remarks.
"Extensive due diligence and evaluation went into this decision and the board believes that formally becoming a part of Carolinas HealthCare System is in the best interests of our patients, our employees, our physicians and our community. In this time of tumultuous change in healthcare we are now aligning our two systems to meet future challenges and opportunities."
Carolinas HealthCare System will assess medical staff needs and recruit physicians to Stanly County. Two members of the Stanly Health Services Board of Directors will be appointed to a new SHS board, and the remainder will be appointed by Carolinas HealthCare System to a newly created advisory council.
St. Joseph's to Align with CHE Trinity Health
St. Joseph's Hospital Health Center will join CHE Trinity Health – the nation's second-largest Catholic healthcare system -- following the signing of a non-binding Letter of Intent by their boards, the two organizations announced.
Financial terms were not disclosed.
If the deal is finalized, it would change ownership of Syracuse, NY-based St. Joseph's from the Sisters of St. Francis of the Neumann Communities to Catholic Health Ministries, the entity that sponsors CHE Trinity Health. CHE Trinity Health was formed in May 2013 when Catholic Health East and Trinity Health merged operations in 21 states.
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