Pueblo, Colo.-based Parkview Health System has until Jan. 24 to come to a merger agreement with Aurora, Colo.-based UCHealth before any such deal could fall apart, according to an Oct. 16 filing.
The two systems have been struggling with regulatory issues for some months now, with an original target closing of mid-2023 delayed.
Both systems will have the opportunity to extend the Jan. 24 deadline by subsequent periods of three months by mutual consent.
Parkview Health had revenue of $541 million for fiscal 2023 ending June 30, recording an operating loss of $22.3 million, according to the filing.
UCHealth, a 12-hospital system, has said it will invest $200 million into Parkview once the transaction closes.