Source: The News-Enterprise
After discussion in closed session, the Hardin Memorial Health Board of Trustees unanimously approved a resolution Tuesday which amended an agreement regarding the $361.4 million sale of Hardin Memorial assets to Baptist Health, its management partner of more than 20 years.
“We’re pleased to acknowledge the agreement with Dr. Larry Hall to dismiss all outstanding legal actions allows us, finally, to move ahead with the formal closing of the sale of HMH to Baptist Health,” the board said in a statement.
“Both HMH and Baptist have been collaborating in a variety of administrative and operational areas during the delay, and we will now move with deliberate speed to accelerate that process.”
The statement from the board said the formal closing will be sometime next year. As a result of the litigation delay, the board will have to restart the administrative process of calibrating such aspects as Hardin Memorial pension payouts.
“This will take some time, which will affect the closing date. But we anticipate the closing date will be no later than Dec. 1, 2020, and hopefully in advance of that,” the statement said.
Meanwhile, the board said Baptist Health immediately will begin planning for significant investments in HMH to better meet the needs of the people of Hardin County and surrounding communities. Among those planned investments is building a new regional cancer center, adding procedural space, creating a new medical office building and make leading-edge information technology investments with the installation of the Epic electronic health record and the MyChart patient portal.
“This is outstanding news not only for the HMH team but also for all health care consumers in Hardin County, who will benefit directly from this historic alliance,” the board said.
The board is comprised of the elected members of Hardin Fiscal Court. The Asset Purchase Agreement with Baptist Health initially was entered by both parties May 23, 2018.
Also at Tuesday’s Board of Trustees meeting, Hardin Memorial Foundation leader and HMH Vice President and Chief Development and Marketing Officer Tracee Troutt said the organization had raised more than $5.7 million in the last five years to pay for projects across HMH.
“Our region gives generously to the HMH Foundation because they believe in strengthening HMH,” Troutt said. As an example, she mentioned Fort Knox Federal Credit Union’s recent announcement of a 10 year, $1.5 million investment in military and community health through the foundation. Money from the bank will be used to expand services available at HMH Medical Group Radcliff Family Medicine, including behavioral health and social services.
Also at the meeting, Hardin Memorial Interim Chief Financial Officer Pam Gallagher presented the financial report for October.
“October was a struggle financially for us,” she said.
During the month, HMH reported a net loss of $1.5 million compared to a projected $1.7 million gain. Gallagher attributed the variance in part to decreased inpatient volumes.
The board was presented the Patient Care Services report by HMH’s Patient Care Services and Chief Nursing Officer Sharon Wright. The annual report highlights patient safety accomplishments and opportunities for improvement.
Hardin Memorial met or exceeded four of its goals related to patient safety including hospital-acquired infections Clostridium difficile infections, catheter-associated urinary tract infections and central line-associated bloodstream infections.