Memorial Health System, which is owned and operated by the city of Colorado Springs (Colo.), is continuing to move forward its plans to convert into a community non-profit, according to a report by the Gazette.
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.
In December, HCA approached Memorial Health about a possible sale, but the city decided to move forward with its plans for a community non-profit.
Colorado Spring's city council is expected to vote on the current proposal on Jan. 25. If the deal is approved, residents would vote on an April ballot.
Read the Gazette report on Memorial Health System.
Read previous coverage on Memorial Health System:
- Colorado's Memorial Health System Approached by HCA, but Still Likely to Convert to Non-Profit
- Sale Considered of Colorado Springs Hospital
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.
In December, HCA approached Memorial Health about a possible sale, but the city decided to move forward with its plans for a community non-profit.
Colorado Spring's city council is expected to vote on the current proposal on Jan. 25. If the deal is approved, residents would vote on an April ballot.
Read the Gazette report on Memorial Health System.
Read previous coverage on Memorial Health System:
- Colorado's Memorial Health System Approached by HCA, but Still Likely to Convert to Non-Profit
- Sale Considered of Colorado Springs Hospital