The board of commissioners for Beaufort Regional Health System in Washington, N.C., approved an affiliation with Franklin, Tenn.-based Community Health Systems, despite a recommendation from its medical staff to affiliate with Greenville, N.C.-based University Health Systems of Eastern Carolina, according to a Washington Daily News report.
CHS's original bid, which has been negotiated since November, included a 30-year lease for a prepaid amount of $30 million with renewals at fair-market value every 10 years. CHS would purchase the "net working capital" of the system, and the bid also included a guarantee of $25 million in capital expenditure from CHS as well a $2 million physician recruitment commitment during the first five years, according to the report.
In October, Beaufort Regional announced it was considering bids from four health systems — Plano, Texas-based LHP Hospital Group; Franklin, Tenn.-based HealthTech Management Services (formerly Brim Healthcare); and Greenville, N.C.-based University Health Systems of Eastern Carolina.
Read the Washington Daily News report on Beaufort Regional Health System.
Read previous coverage on Beaufort Regional Health System:
- CHS Rejoins Negotiations for North Carolina's Beaufort Regional Health System
- CHS Withdraws Offer for North Carolina's Beaufort Regional
- Medical Staff at North Carolina's Beaufort Regional Approves Merger With University Health of Eastern Carolina
CHS's original bid, which has been negotiated since November, included a 30-year lease for a prepaid amount of $30 million with renewals at fair-market value every 10 years. CHS would purchase the "net working capital" of the system, and the bid also included a guarantee of $25 million in capital expenditure from CHS as well a $2 million physician recruitment commitment during the first five years, according to the report.
In October, Beaufort Regional announced it was considering bids from four health systems — Plano, Texas-based LHP Hospital Group; Franklin, Tenn.-based HealthTech Management Services (formerly Brim Healthcare); and Greenville, N.C.-based University Health Systems of Eastern Carolina.
Read the Washington Daily News report on Beaufort Regional Health System.
Read previous coverage on Beaufort Regional Health System:
- CHS Rejoins Negotiations for North Carolina's Beaufort Regional Health System
- CHS Withdraws Offer for North Carolina's Beaufort Regional
- Medical Staff at North Carolina's Beaufort Regional Approves Merger With University Health of Eastern Carolina