St. Cloud, Minn.-based CentraCare has shared plans to purchase CentraCare-Monticello (Minn.) Hospital from the Monticello Hospital District Board for $2 million.
Here are three things to know:
1. The hospital purchase plan has been in the works since April 2013 when the district began its relationship with CentraCare, according to an Oct. 3 joint statement shared with Becker's.
2. CentraCare currently operates the hospital and will continue to do so in "substantially the same manner as prior to the real estate transfer." The underlying real estate administrative transfer was agreed upon in the original affiliation agreement terms.
3. As the CentraCare deal nears completion, and in recognition of CentraCare's commitment to serve "local patients, the broader community and greater Minnesota," the district will begin winding down its role in the purchase of the hospital real estate, the statement said.