MedWest seeks capital partner
At its meeting on May 13, 2013, the MedWest governing board voted unanimously to explore alignment with a capital partner. As part of the action taken, the board established the following objectives that will guide its exploration:
• Secure the MedWest hospitals’ long-term stability and financial viability
• Elevate and promote the quality of local healthcare services to the communities we serve
• Make needed investments in facilities, technology, and personnel
• Recognize the quality of the employees as an asset and enhance the hospitals’ status as “employers of choice”
• Continue to develop quality medical staffs with strong ties to the community as a whole
• Preserve existing services and enhance access to acute care services available locally
• Continue to enhance the communities’ confidence in their local hospitals
• Preserve local input into key decisions
• Enhance the role of the hospitals as assets for the communities and for economic development
Carolinas HealthCare System will continue to be MedWest’s manager while the MedWest Board’s process evolves and will continue to support the MedWest Board and its decisions and actions.
The board recognizes it is premature to determine what structure or form any future alignment may take and is open to consider all affiliation structures proposed by potential capital partners.
The MedWest Board decision followed a presentation by Stroudwater Associates, the healthcare consulting group recently retained by the board. The board anticipates proposals from potential capital partners will be received in about two months. The evaluation process will then take several additional months before the board renders a decision on whether to proceed and with whom.
To preserve the competitive nature of the process and honor confidentiality agreements, the list of potential capital partners invited to submit proposals and the details of the evaluation process will be kept confidential.
At this stage of the process the board can only communicate the process it is undertaking and the progress it is making toward achieving the stated objectives. No decisions have been made as to whether to affiliate with a capital partner, what form that affiliation might take or with whom. Those decisions will be made after careful review and consideration of the potential capital partners and their proposals.
MedWest Health System provides healthcare for the people of western North Carolina at MedWest-Harris, MedWest-Haywood and MedWest-Swain hospitals, the outpatient facility MedWest-Franklin, and through the 100-member MedWest Physician Network. MedWest is affiliated with Carolinas HealthCare System.