After reporting a $1.2 million loss for the start of fiscal 2010, Tampa Bay, Fla.-based University Community Health continues to work toward a merger with Adventist Health System, according to a Washington Business Journal report.
University Community Health is comprised of University Community Hospital, University Community Hospital-Carrollwood, Pepin Heart Hospital and Helen Ellis Memorial Hospital. One obstacle to the merge was removed when the lease agreement for Helen Ellis was amended to remove language that required the hospital to be operated as a secular institution, according to the report. Adventist is a faith-based organization.
Winter Park, Fla.-based Adventist and UCH signed an informal letter of intent in March, and if all goes through, Adventist will assume UCH's $200 million in debt. The two entities are also working together to build an acute care hospital in Wesley Chapel, Fla.
The groups hope to wrap up the merger by UCH President and CEO Norm Stein's retirement on Aug. 31, according to the report.
Read the Washington Business Journal report on the University Community Health and Adventist merger.
Read related stories:
- Tampa Health System Exploring Affiliation with Adventist Health
- Florida's Helen Ellis Hospital Nears Merger With Adventist Health
University Community Health is comprised of University Community Hospital, University Community Hospital-Carrollwood, Pepin Heart Hospital and Helen Ellis Memorial Hospital. One obstacle to the merge was removed when the lease agreement for Helen Ellis was amended to remove language that required the hospital to be operated as a secular institution, according to the report. Adventist is a faith-based organization.
Winter Park, Fla.-based Adventist and UCH signed an informal letter of intent in March, and if all goes through, Adventist will assume UCH's $200 million in debt. The two entities are also working together to build an acute care hospital in Wesley Chapel, Fla.
The groups hope to wrap up the merger by UCH President and CEO Norm Stein's retirement on Aug. 31, according to the report.
Read the Washington Business Journal report on the University Community Health and Adventist merger.
Read related stories:
- Tampa Health System Exploring Affiliation with Adventist Health
- Florida's Helen Ellis Hospital Nears Merger With Adventist Health