Representatives from Naples, Fla.-based hospital chain Health Management Associates and Daytona Beach, Fla.-based Halifax Health pitched competing plans to partner with Bert Fish Medical Center in New Smyma Beach, according to a report by the Daytona Beach News-Journal.
Both potential buyers are currently under scrutiny for allegedly admitting patients improperly to generate more revenue, according to the report. Bert Fish officials plan to review the proposals in March.
Halifax's plan included $65 million in capital investment over a decade and would grant the local hospital district's board of commissioners 50 percent representation and the deciding vote for service cuts.
Health Management floated two options. The first is a long-term lease in which the hospital chain would pay the Bert Fish hospital district $50 million and invest an additional $40 million into the hospital over a decade. The second proposal is a joint venture in which Health Management would buy an 80 percent stake in the hospital and give the hospital district half the governing seats, but it would retain tie-breaking voting power, according to the report.
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Both potential buyers are currently under scrutiny for allegedly admitting patients improperly to generate more revenue, according to the report. Bert Fish officials plan to review the proposals in March.
Halifax's plan included $65 million in capital investment over a decade and would grant the local hospital district's board of commissioners 50 percent representation and the deciding vote for service cuts.
Health Management floated two options. The first is a long-term lease in which the hospital chain would pay the Bert Fish hospital district $50 million and invest an additional $40 million into the hospital over a decade. The second proposal is a joint venture in which Health Management would buy an 80 percent stake in the hospital and give the hospital district half the governing seats, but it would retain tie-breaking voting power, according to the report.
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