Thursday, October 18, 2012
Memorial Board of Trustees Continues With Phase II of Affiliation Exploration
The Memorial Healthcare Board of Trustees met on Tuesday, October 16 and has decided to continue in Phase II of the affiliation exploration with another healthcare system. The systems being considered include Covenant HealthCare, McLaren Health Care, and Sparrow Health System. Another board meeting will be scheduled at the end of November.
“This decision will have a profound impact on how Memorial Healthcare conducts business in the future,” said Timothy Gewirtz, Chair of Memorial Healthcare’s Board of Trustees. “Memorial has been an integral part of the community for 91 years and our goal is to ensure Memorial Healthcare is here for another 91 years. The Board is committed to a careful, thoughtful, methodical approach in our deliberations and we feel strongly that this monumental decision can’t be rushed. We appreciate the support and patience of our employees, physicians and the community as we proceed with the affiliation exploration process.”
If a system is selected to proceed to Phase III, a memorandum of understanding would be negotiated with the system and more intensive due diligence would occur. Phase III would most likely conclude with an agreement that best satisfies the guiding principles for affiliation set forth by Memorial Healthcare. Phase III could take an additional 6-12 months to complete. If any of the potential partners are not a good fit with Memorial’s guiding principles, the Board of Trustees can decide at any time to end the exploration process.
Memorial Healthcare welcomes any questions or concerns from the community via email at email@example.com. We also invite the community to view our guiding principles for the affiliation exploration process here.