Informational Meeting on Agreement Between Memorial Medical Center and Marshfield Clinic Health System, Part 7
Thursday, March 22nd, 2018 -- 11:30 AM
-Memorial Medical Center held another informal meeting last week to provide more information on their recent deal with Marshfield Clinic Health System.Ryan Neville, CEO and President of MMC, explained the final facts that helped them decide to sign a letter of intent with Marshfield Clinic.
"So, when we look at these, we look at penetration. So, we look at how do we penetrate market share of 40% and how do we penetrate Security Health Plan at 41% of our total revenue? Those become very hard, penetrable things. So, with this mind and knowing that our community uses Marshfield Clinic more than us, lets sign a letter of intent. Now a letter of intent is an engagement and the definitive agreement signing isn't there. So, right now, we're engaged to change ownership from Memorial Medical Center to Marshfield Clinic Health System. However, we agreed to some terms that we feel are important."
"One of those terms, is that the $40 million building would continue to go into our community. Meaning, that for us to affiliate, you're still going to have to build the building we planned to build. And they said absolutely. That's one of our goals. Two, we wanted to sustain the level of employment going forward. And three, what ever programs we offer right now, we only want to grow. So, we don't want to become a specialty hospital. We want to be able to grow our platform and provide more specialty care. And those were all terms they agreed on."
Coming up on Friday, Ryan will explain some of the benefits to MMC in regards to becoming a part of the Marshfield Clinic Health System.
In Case You Missed It:
Part 1: cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20866
Part 2: http://cwbradio.com/news/?fn_mode=fullnews&fn_id=20877
Part 3: http://cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20888
Part 4: http://cwbradio.com/news/index.php?p=news&fn_incl=1&fn_mode=fullnews&fn_id=20908
Part 5: http://cwbradio.com/news/?fn_mode=fullnews&fn_id=20922
Part 6: http://cwbradio.com/news/?fn_mode=fullnews&fn_id=20928
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