Marshalltown, Iowa-based Central Iowa Healthcare continues to explore a potential partnership opportunity with Ames, Iowa-based MaryGreelyMedicalCenter and LHP Hospital Group in Plano, Texas, according to a report in the Times-Republican.
All three parties signed a non-binding letter of intent. They are in exclusive negotiations for 90 days.
While the type of partnership has yet to be finalized, the letter of intent said LHP and Greely will form a limited liability company and acquire all of CIH's healthcare assets, including its facilities. CIH would lose its nonprofit status and would be renamed LHP.
CIH retains approximately 500 employees and owns a 49-bed acute care hospital, an outpatient center that opened in Aug. 2015 and three primary care clinics.
MGMC is a publically owned 220-bed hospital and retains a medical staff of more than 200 physicians and 1,300 staff.