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Article: BON SECOURS TO NEGOTIATE FRANCISCAN PURCHASE.
- Article from:
- Modern Healthcare
- Article date:
- May 3, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In a sale that would create a 26-hospital Roman Catholic system, Bon Secours Health System signed an agreement to negotiate to buy Franciscan Health Partnership, a nine-hospital system based in Albany, N.Y.
On Friday, the two Catholic systems signed a nonbinding memorandum of understanding to negotiate a deal. They're expected to announce the agreement publicly this week.
The two systems expect to craft a definitive agreement in the next several months, although officials declined to name a specific date.
Based in Marriottsville, Md., Bon Secours operates 17 owned or joint- venture hospitals, along with post-acute-care and other outpatient ...