A partnership running three not-for-profit hospitals in metro Denver is turning over control of the hospitals to the larger partner. The LMC Community Foundation is ceding control of the Exempla Healthcare system, which includes Saint Joseph Hospital, Lutheran Medical Center and Good Samaritan Medical Center, as well as the Exempla Physicians Network. In the deal, which is expected to finalize in mid-2007, Lenexa, KA-based Sisters of Charity of Leavenworth Health System will assume control, adding these assets to its existing network of nine hospitals and four clinics. Sisters of Charity will reportedly provide the LMC Community Foundation with a "sizable" donation as part of the transaction.
To get more background on the deal:
- read this article in the Denver Business Journal