Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Sisters of Mercy to Lease Missouri's McCune-Brooks Hospital

Carthage (Mo.) City Council has approved an agreement for Chesterfield, Mo.-based Sisters of Mercy Health System to lease its city-owned McCune-Brooks Hospital, according to a Joplin Globe report.

McCune-Brooks and Mercy formed a relationship after a tornado destroyed St. John's Regional Medical Center in Joplin, Mo., in May. With a $1.8 million gift from Mercy, McCune-Brooks expanded its services to make up for the facility's loss.

Under the arrangement, Mercy will provide approximately $3 million each year to help pay off the $40 million in debt still remaining from McCune-Brooks' construction. Mercy will also spend $20-30 million on the installation of a new EMR system in McCune-Brooks along with an additional $250,000 in payments each year for purposes unspecified in the release.

Mercy will also put $8 million in working capital into the Carthage hospital, according to the report.

Related Articles on Hospital Transactions:

Community Health Systems Out of the Running for Colorado's Memorial Health
Steward Wants to Sell Off 11 Medical Offices on Hospital Campuses
OSF Healthcare, Rockford Health Plan to Appeal FTC's Challenge Against Acquisition

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars