Although KershawHealth's sale to Capella Healthcare and takeover by the Franklin, Tenn., company in conjunction with MUSC Health is a done deal, the hospital's board of trustees will still receive and update and legal advice on the transaction during its meeting tonight.
The KershawHealth Board of Trustees is calling a special meeting for 6 p.m. today at the Health Resource Center on Battleship Road in Camden. The special meeting could signal a finalization of an agreement with Capella Healthcare of Franklin, Tenn., and MUSC Health -- the patient care arm of the Medical University of South Carolina -- to take over KershawHealth's operations. The move would convert KershawHealth from a public hospital overseen by the board, which is appointed by Kershaw County Council, to a for-profit enterprise.
Monday is deadline day for KershawHealth, Capella Healthcare of Franklin, Tenn., and MUSC Health -- the patient care arm of the Medical University of South Carolina. Monday marks the latest expiration date for a letter of agreement for Capella and MUSC Health to take over operations of the county's public hospital, converting it to a for-profit business.
The KershawHealth Board of Trustees, which normally meets tonight for its second meeting of the month, is postponing the meeting to Wednesday. The meeting will still be held at the Health Resource Center on Battleship Road in Camden and will still begin at 6 p.m.
In September 2014, KershawHealth earned two "Zero Harm" awards from the S.C. Hospital Association and S.C. Medical Association during the two organizations' Trustees, Administrators and Physicians Conference. The awards were for having zero infections during hip and knee surgeries for 18 months. It appears, according to KershawHealth Board of Trustees Vice Chair Dr. Tallulah Holmstrom, the hospital is poised to receive those awards again. Holmstrom made her report during the board's Aug. 10 meeting.
In what may be a sign the pending lease/purchase of KershawHealth by Capella Healthcare of Franklin, Tenn., is about to be finalized, the hospital's board of trustees voted unanimously Monday on a measure which would make members of KershawHealth's executive team Capella employees.
The KershawHealth Board of Trustees will use part of an executive session at the end of its meeting tonight to receive another update and more legal advice regarding the pending lease/purchase of the hospital by Capella Healthcare. Trustees will also discuss a possible property transaction with the city of Bethune.
As the KershawHealth Board of Trustees voted Monday to extend its letter of intent with Capella Healthcare to Aug. 31, Capella made an announcement of its own. The private, for-profit healthcare and hospital company is being acquired by Medical Properties Trust Inc. (MPT) for $900 million. In a press release, Capella and MPT said they expect the transaction to be finalized during the second half of 2015. Capella, based in Franklin, Tenn., is currently owned by funds affiliated with GTCR, a leading private equity firm headquartered in Chicago. MPT is based in Birmingham, Ala.
For the fourth time, members of the KershawHealth Board of Trustees voted Monday night to extend a letter of intent involving the lease/purchase of the hospital by Capella Healthcare of Franklin, Tenn. The deal -- originally set to close back on March 31, was initially extended to May 31 and then twice more to June 30 and July 31. The board voted unanimously, 8-0, Monday to extend the deal yet another month to Aug. 31.
The KershawHealth Board of Trustees will enter executive session at the end of its meeting tonight to receive and update and legal advice on two topics. One item concerns the old Pine Tree Hill Elementary School property on Lakeshore Drive. KershawHealth purchased portions of the former school property from the city of Camden a number of years ago after the city purchased the property from the Kershaw County School District.