Memorial Hospital in Fremont and ProMedica to Consider Affiliation
posted on: 01/18/2012TOLEDO, Ohio, Dec. 22, 2011 – We are pleased to announce that the Board of Directors for Memorial Hospital in Fremont voted on December 21, 2011 to enter into a letter of intent to pursue an affiliation between Memorial Hospital and ProMedica. During this period, expected to take approximately 90 days, the terms of the transaction will be negotiated and due diligence will be completed.
Following the board’s vote, Al Mehlow, Board Chairman, Memorial Hospital stated, “We are pleased to enter into this discussion with ProMedica. As a strong health care provider serving the greater Fremont community for nearly 100 years, this anticipated partnership with ProMedica will further strengthen both organizations and allow us to continue to meet the health needs of our community for generations to come.”
Randy Oostra, President and CEO, ProMedica, stated that, “As a mission-based, not-for-profit health system, our focus is to help ensure we meet the health and well-being needs of all the communities we serve. We are grateful for this opportunity, as this relationship with Memorial Hospital will most certainly reinforce our commitment to Fremont and the northwest Ohio community.”
Memorial Hospital is a 186-licensed bed facility that has provided comprehensive, inpatient and outpatient health care services to Sandusky County and its neighboring communities since 1918. Fiscal 2011 was the fourth consecutive year that Memorial has had a positive operating margin. Memorial Hospital employs approximately 550 full and part-time associates and over 180 physicians are members of the medical staff.
ProMedica, a mission-based organization that is ranked the No. 2 most integrated health system in the U.S., was formed in 1986 and is a Toledo, Ohio-based, not-for-profit healthcare organization with nearly 14,000 employees; 3,000 physicians and more than 306 facilities in Ohio and Michigan. ProMedica serves more than 2.73 million patients annually and includes 11 hospitals; ProMedica Continuum Services with senior, hospice, rehabilitation, and integrative services; ProMedica Physicians, a network of more than 315 primary care and specialty physicians; and Paramount Health Care, the largest HMO in northwest Ohio.