Asset transfer on MVH agenda for Nov. 27 meeting
- Madras Pioneer - News
>Agreement pendingThe Mountain View Hospital District Board of Directors is expected to take final action on an agreement to transfer its assets to St. Charles Health System on Nov. 27.
At the board's regularly scheduled meeting, Tuesday, at 5:30 p.m., in the Metolius room, the board will consider the transfer, which has been discussed for the past few months.
Under the agreement, the board would turn over $13.1 million in gross assets -- its facility, 17.75 acres of property and all equipment and cash -- and $3.4 million in debt.
In exchange, St. Charles will commit to investing at least $10 million for capital improvements.
The asset transfer decision is a result of changes in reimbursement for federal programs such as Medicare, Medicaid and Indian Health Services, which are expected to dramatically reduce the hospital's income.