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Article: Idaho merger mania?; After years of no activity, four of state's 42 hospitals to consolidate.(Magic Valley Regional Medical Center buys Twin Falls Clinic and Hospital)(Brief Article)
- Article from:
- Modern Healthcare
- Article date:
- November 5, 2001
- Author:
CopyrightCOPYRIGHT 2001 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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After the state of Idaho experienced no hospital mergers in more than four years, two have popped up in three weeks.
Late last month Magic Valley Regional Medical Center, a county-owned 180-bed facility in Twin Falls, signed a letter of intent to buy the only other acute-care facility in town, 38-bed Twin Falls Clinic and Hospital. Terms of the proposed sale, which would create an acute-care monopoly in Twin Falls, population 35,000, weren't disclosed.
A group of 17 physicians owns the smaller, for-profit hospital, which would convert to not-for-profit status after the sale.
``The purpose is to purchase their (Twin Falls') inpatient operations ...