The Times West Virginian

May 21, 2013

Midsummer goal for decision on FGH strategic partner

But hospital CEO says announcement ‘could easily be later than that’

By Mary Wade Burnside
Times West Virginian

FAIRMONT — Fairmont General Hospital officials hope to have an announcement midsummer regarding a strategic partner that would take over the facility.

“I don’t think it’s going to be any sooner than that,” Robert C. Marquardt, president and CEO of Fairmont General, said Monday evening following the regular monthly meeting of the board of directors. “It could easily be later than that.”

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 Act passed by Congress in March 2010 and signed by President Barack Obama.

Originally, Marquardt had hoped to have an announcement in 2012 regarding the partnership, but he did not.

The hospital hired New York-based Cain Bros., an investment banking firm that specializes in hospital mergers and acquisitions. The hospital signed nondisclosure deals with 11 facilities, and now hospital officials have narrowed those down to two possibilities, one in-state and one out of state.

Marquardt has declined to say if 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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