Washington, D.C.-based BridgePoint Healthcare expressed interest last year in acquiring Laurel (Md.) Regional Hospital, but BridgePoint says the hospital's current owner is delaying a final decision on the deal, according to the Baltimore Sun.
In November of last year, BridgePoint and Laurel Regional's owner, Cheverly, Md.-based Dimensions Healthcare System, entered a non-disclosure agreement, allowing information exchange between the two organizations. However, BridgePoint President and CEO Marc Ferrel said his company has been waiting four months for Dimensions to provide information on the hospital's financial status.
During a Jan. 6 conference call with Dimensions CFO Lisa Goodlett, and Carl Jean-Baptiste, senior vice president of Dimensions, BridgePoint was told the financial documents could be "found online," according to the report.
That response did not sit well with Mr. Ferrel. "Well, the purpose of a non-disclosure agreement is for them to be able to provide us documentation that is not open to the public," he told the Baltimore Sun. "So, what's its purpose if they're going to tell us to go online to find the documents?"
Mr. Jean-Baptiste of BridgePoint disagrees with Mr. Ferrel's characterization of the call. "I explained that I was concerned that [Ms. Goodlett] and I had not vetted answers we were giving from personal knowledge and memory," he said in a Feb. 19 letter to Mr. Ferrel. "Secondly, I explained that the oral nature of communication made it more difficult to create an accurate record of the specific information disclosed…"
While the future ownership of Laurel Regional is uncertain, the hospital continues to face financial troubles. It has seen inpatient admission drop by 20 percent since 2013 and its finances have been worsening over the past six years.
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