Three Rivers (Mich.) Health will make the switch to a non-profit, 501(c)(3) corporation from its public authority status after area voters approved the measure yesterday, according to a Kalamazoo Gazette report.
Roughly 85 percent of voters in the area agreed to support the hospital's change of status, and it is expected the move will be completed before the end of March 2012, according to the report.
Three Rivers Health CEO Bill Russell said the vote will allow the hospital to finance its debt in a more efficient manner. The hospital will accept an offer from a local bank to take on a loan to pay off $2 million in bonds owed to Chase Bank.
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Roughly 85 percent of voters in the area agreed to support the hospital's change of status, and it is expected the move will be completed before the end of March 2012, according to the report.
Three Rivers Health CEO Bill Russell said the vote will allow the hospital to finance its debt in a more efficient manner. The hospital will accept an offer from a local bank to take on a loan to pay off $2 million in bonds owed to Chase Bank.
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