POCATELLO, Idaho, July 8 /PRNewswire/ -- After more than a dozen indications of interest in the Request for Proposal (RFP) issued by Bannock County and Portneuf Medical Center (PMC), the County Commission, with advice from the leaders of PMC and its medical staff, has named two finalists as possible capital partners to complete construction of a new full-service hospital on its 61-acre campus. Each potential partner has agreed to a County- proposed shared ownership and governance structure with a local not-for-profit entity the County is forming in cooperation with PMC. Those finalists are Legacy Hospital Partners, Inc. and LifePoint Hospitals, Inc.
The process to partner with a healthcare system would include county voters' approval of the transfer of PMC's assets to the local not-for-profit and simultaneous formation of a Community Benefit Organization (CBO) joint venture between that not-for-profit and the selected capital partner. The joint venture will be required to operate in a manner that adheres to strict IRS rules requiring local control over community benefit standards affecting patients and the entire community.
Legacy Hospital Partners is a privately held company recently formed by an experienced healthcare management team to own, operate, and manage acute care hospitals in partnership with local not-for-profit entities throughout the United States. Headquartered in Plano, Texas, Legacy has financial backing from affiliates of private equity firm CCMP Capital Advisors, LLC and the Canada Pension Plan Investment Board as well as members of management. Legacy's senior executives, most of whom have worked together in other healthcare systems for more than 10 years, are known for pioneering the development of some of the most successful models for community benefit partnerships with not-for-profit hospitals.
LifePoint is a publicly traded company listed on the NASDAQ under the
symbol "LPNT," and based in Brentwood, Tennessee. Est
|SOURCE Portneuf Medical Center|
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