A proposal to convert Colorado Spring's Memorial Hospital from a public to a non-profit entity has been delayed, according to a Colorado Connection report.
Memorial Health System's board of trustees, which supports the switch to a non-profit, has decided to delay putting the measure on an April ballot due to the community's lack of information and confusion about what a conversion would mean, according to the report.
The city's obligation to hospital employees through its Public Employees Retirement Association may have also played a role in the delay, according to the report. The city's obligation is now estimated at $245 million — 10 times an earlier estimate.
Colorado Spring's city council was expected to vote on the measure today to determine if the issue would be placed on the April ballot. The conversion was originally recommended by an independent citizens' commission.
Under the planned transition, the health system would make a one-time, $5 million payment along with $500,000 yearly payments to a foundation to promote healthcare in Colorado Springs.
At least one member of city council voiced a desire to solicit partners for the hospital, according to the report. The system was previously approached by HCA-HealthOne for a sale but did not show interest in such a deal.
Read the Colorado Connection report on Memorial Health System.
Read more coverage on Memorial Health System:
- HCA-HealthOne Continues to Pursue Colorado's Memorial Health Despite Hospital's Likely Transition to Non-Profit
- Colorado's Memorial Health System Approached by HCA, but Still Likely to Convert to Non-Profit
Memorial Health System's board of trustees, which supports the switch to a non-profit, has decided to delay putting the measure on an April ballot due to the community's lack of information and confusion about what a conversion would mean, according to the report.
The city's obligation to hospital employees through its Public Employees Retirement Association may have also played a role in the delay, according to the report. The city's obligation is now estimated at $245 million — 10 times an earlier estimate.
Colorado Spring's city council was expected to vote on the measure today to determine if the issue would be placed on the April ballot. The conversion was originally recommended by an independent citizens' commission.
Under the planned transition, the health system would make a one-time, $5 million payment along with $500,000 yearly payments to a foundation to promote healthcare in Colorado Springs.
At least one member of city council voiced a desire to solicit partners for the hospital, according to the report. The system was previously approached by HCA-HealthOne for a sale but did not show interest in such a deal.
Read the Colorado Connection report on Memorial Health System.
Read more coverage on Memorial Health System:
- HCA-HealthOne Continues to Pursue Colorado's Memorial Health Despite Hospital's Likely Transition to Non-Profit
- Colorado's Memorial Health System Approached by HCA, but Still Likely to Convert to Non-Profit