The Times West Virginian

March 26, 2013

Search for partners for FGH continues

No timeline set for potential strategic partner to be named

By Mary Wade Burnside
Times West Virginian

FAIRMONT — Fairmont General Hospital continues to negotiate with two entities — one located out of state that is for-profit and another that is not-for-profit and in state — regarding a strategic partnership that essentially would be a takeover of the facility.

Robert C. Marquardt, president and CEO of Fairmont General, does not have a timeline of when he expects to have a deal.

“I’d like to see it done by the end of the year,” he said Monday. “If you recall, I had two previous time predictions, neither of which came to fruition.”

Fairmont General officials announced at the end of 2011 that they would seek a strategic partner to take over the facility, especially in light of the health care changes that will be coming next year with the implementation of the Patient Protection and Affordable Care Acts passed by Congress in March 2010 and signed by President Barack Obama.

The hospital hired New York-based Cain Bros., an investment banking firm that specializes in hospital mergers and acquisitions. Eventually, the hospital signed nondisclosure deals with 11 facilities.

The two remaining facilities were part of the original group, Marquardt has said.

Marquardt declined to say if the West Virginia United Health System (WVUHS), which owns WVU Hospitals and United Hospital Center in Bridgeport, is the West Virginia facility still in negotiations.

 

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