October 3, 2012 -- St. Charles Health System and Mountain View Hospital have reached a tentative agreement on the major terms and conditions of a potential asset transfer.
Per the tentative agreement, Mountain View Hospital would become St. Charles Madras effective Jan. 1. Its more than 200 employees would be employed by St. Charles provided they meet certain conditions.
The transaction would also include a significant infusion of capital into Mountain View’s operations, ensuring the hospital is able to make much-needed facility upgrades and enhance its information technology infrastructure.
“We’re committed to providing the same high quality of care the Jefferson County community has come to expect from Mountain View Hospital,” said James A. Diegel, FACHE, president and CEO of St. Charles Health System. “This potential asset transfer ensures the long-term sustainability of the hospital — and is an important step forward in the transformation of health care delivery in the region.”
St. Charles plans to maintain a similar level of services — including obstetrical care — and make available on its board a seat for a Mountain View Hospital appointee for a three-year term.
“This change brings the best of both organizations together for the benefit of the people of Jefferson County,” said Jeanine A. Gentry, FACHE, CEO of Mountain View Hospital. “We will have access to more resources while still offering the personal, compassionate care our community loves. St. Charles is the perfect partner to help us grow for years to come.”
The two organizations’ work now shifts to due diligence, as well as drafting a written agreement and transition plan. Both boards hope to finalize the transaction by the end of the year.
