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MedWest Explores Idea for Financial Partner

The MedWest health system is currently exploring options of taking on a business partner. During its meeting on May 13th the MedWest board voted unanimously to examine alignment with a capital partner. As part of the decision the MedWest board established the following objectives that will aid its exploration:

  • Secure the MedWest hospitals’ long term stability and financial viability
  • Elevate and promote the quality of local healthcare services to communities served
  • Make needed investments in facilities, technology, and personnel
  • Recognize the quality of the employees as an asset and enhance the hospitals’ status as “employers of choice”
  • Continue to develop quality medical staffs with strong ties to the community as a whole
  • Preserve existing services and enhance access to acute care services available locally
  • Continue to enhance the communities confidence in their local hospitals
  • Preserve local input into key decisions
  • Enhance the rolls of hospitals as assets for the communities and for economic development

Carolinas Health Care system will continue to be MedWest’s manager while MedWest boards’ process evolves and will continue to support the MedWest board and its decisions. The board anticipates proposals from potential capital partners will be received in about two months; the evaluation will then take several additional months while the board renders a decision on whether to proceed and with whom. To preserve the competitive nature of the process and honor confidentiality agreements, the list of potential capital partners invited to submit proposals and the details of the evaluation process will be kept confidential. The MedWest board is quoted as saying “At this stage of the process the Board can only communicate the process it is undertaking and the progress it is making toward achieving the stated objectives. No decisions have been made as to whether to affiliate with a capital partner, what form that affiliation might take or with whom. Those decisions will be made after careful review and consideration of the potential capital partners and their proposals”.