News Release
For immediate release
March 30, 2010
For more information contact
Marketing Strategies, Inc.
Denise Blackburn, APR or Sarah George, APR
(843) 692-9662
pr@marketingstrategiesinc.com
MARION REGIONAL HEALTHCARE SYSTEM CONSIDERS NEW STRATEGIC ALIGNMENT
MRHS Begins Exclusive Negotiations with Subsidiary of Community Health Systems, Inc.
MARION, S.C– The Marion Regional Healthcare System board of trustees has entered into a non-binding agreement with a subsidiary of Community Health Systems, Inc., the parent company of Carolinas Hospital System in Florence and four other hospitals in South Carolina. The parties will now enter into a period of exclusive negotiation for the ownership transfer of all MRHS assets. The board’s decision follows many months of strategic research and discussion concerning the future of MRHS.
“Our mission and strategic priorities remain the same. We have long believed that alliance with a regional tertiary care provider is necessary to ensure our continued growth and relevance in the community,” said MRHS Board Chairman Bruce I. Siegal. “In considering the best possible future for MRHS, our board’s research indicates that affiliation with CHS will bring significant additional benefit to our operations, our employees and medical staff, and the regional community.”
Community Health Systems, Inc. is the largest publicly-traded hospital company in the country. Through its affiliates, the organization includes 122 hospitals across 29 states. CHS affiliated hospitals in South Carolina include Carolinas Hospital System in Florence; Marlboro Park Hospital in Bennettsville; Chesterfield General Hospital in Cheraw; Springs Memorial Hospital in Lancaster; and Mary Black Health System in Spartanburg.
“This is a company that successfully combines vast national resources with a genuine respect for the local communities they serve,” said MRHS Chief Executive Officer Donald H. Lloyd. “MRHS will benefit greatly from their support and expertise in the areas of managed care negotiation, physician recruitment, group purchasing and access to capital.”
Although details will be finalized during the period of due diligence and final negotiation, the agreement will include these commitments:
• MRHS will remain open as an acute care hospital offering the same services it currently provides.
• MRHS employees in good standing at the time of closing will be hired in the same positions with seniority recognized.
• The hospital will continue to participate in the Medicare and Medicaid programs and will continue to provide a charity care policy.
• The hospital will be governed by a local board of trustees comprised of area physicians and community leadership.
• The agreement will include capital investments and physician recruitment efforts to help position MRHS for long-term stability and growth.
“We are committed to making the best choice for our patients, employees, physicians, and volunteers,” said Siegal. “Working with CHS, we can further our mission to be a leader in quality care and to ensure that our region has access to excellent healthcare services now and in the future.”
About Marion Regional Healthcare System
Marion Regional Healthcare System is a private, nonprofit organization that operates Marion County Medical Center, Aynor Medical Center and the Mullins Nursing Center, a 92-bed skilled facility that earlier this year earned recognition from US News and World Report as one of the nation’s top nursing homes. In addition, MRHS operates nine hospital-owned practices providing pediatric care, internal medicine, general surgery, family medicine, and obstetrics and gynecology. MRHS and its affiliates serve a market population of approximately 60,000.
About Community Health Systems, Inc.
Located in the Nashville, Tennessee, suburb of Franklin, Community Health Systems, Inc. is the largest publicly-traded hospital company in the United States and a leading operator of general acute care hospitals in non-urban and mid-size markets throughout the country. Through its subsidiaries, the Company currently owns, leases or operates 122 hospitals in 29 states with an aggregate of approximately 18,000 licensed beds. Its hospitals offer a broad range of inpatient and surgical services, outpatient treatment and skilled nursing care. In addition, through its QHR subsidiary, the Company provides management and consulting services to approximately 150 independent non-affiliated general acute care hospitals located throughout the United States. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol "CYH." |