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The Offer
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Community Health Systems Professional Services Corporation (CHS) has made a compelling offer to Morristown-Hamblen Healthcare System that would enable that hospital to join forces with Lakeway Regional Hospital to expand and enhance healthcare services for the community.
The CHS Offer includes:
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- CHS would pay $50 million for the assets of MHHS.
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- MHHS would keep all of its cash and investments, estimated at $30 million.
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- With proceeds from the sale, MHHS would establish an independent Community Foundation worth tens of millions of dollars.
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- CHS would invest at least $60 million in capital improvements at MHHS over the first seven years.
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- A partnership would result in additional local tax revenues estimated at $800,000 to $1 million annually.
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- MHHS would continue to operate with a local board of trustees.
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- All MHHS employees would be hired in the same position and at the same rate of pay.
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- CHS will maintain the charity care policies currently in place at MHHS.
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