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PMC and County Announce Potential Capital Partners for Hospital
Date:7/8/2008

ablished in May 1999, LifePoint is one of the nation's largest hospital companies focused on providing healthcare services in non-urban communities - the most rapidly growing sector of the national healthcare industry. Of the company's 48 hospitals in 17 states, 44 are in communities where the LifePoint hospital is the sole community hospital provider. An important part of LifePoint's strategy is developing community hospitals into true regional referral centers that can support smaller nearby hospitals by offering their patients convenient access to specialty services.

"Our goal is to achieve the best possible healthcare for our community," said Larry Ghan, Chair of the Bannock County Commission. "That includes working with a capital partner that will commit to providing the financial support and other necessary resources to build a full-service, technologically advanced regional medical center that will meet this community's present and future needs. What makes our plan the right one is that we do all this while enabling the Hospital to continue its community mission, while retaining significant local control. The vehicle for this local control," Ghan explained, "is the shared ownership and governance structure with the local not-for-profit we are currently forming in cooperation with the current PMC Governing Board. There are still many issues to be addressed; however, we are pleased that we have made enough progress to enter the next stage of this vital community process."

On the heels of the 2006 Idaho Supreme Court Frazier Decision, and after extensive study and review of the various options available, the hospital's leadership and the County Commission, with assistance from outside consultants, determined PMC's best option to acquire the financing needed to complete the construction of its replacement facility would be to seek a qualified financial partner. The group contacted more than 25 local and national healthcare systems, a majority of whi
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SOURCE Portneuf Medical Center
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