Midcoast health org mulls merger
Pen Bay Healthcare is considering merging with Portland-based MaineHealth, the state's largest health care organization.
At an annual meeting of incorporators, MaineHealth president and CEO William Caron discussed more details on what the merger would mean for the Rockport-based health care organization, parent to Pen Bay Medical Center, according to the Republican Journal. Per the merger agreement, MaineHealth would give Pen Bay $3 million for electronic medical upgrades, an additional $25,000-$50,000 for communications upgrades and one seat on its board of trustees. Pen Bay would have to pay $675,000 in annual dues to MaineHealth.
Pen Bay President Roy Hitchings Jr. said quality of care and financial efficiencies are the motivation behind considering the merger. The board of trustees is scheduled to vote on the proposal on Dec. 28, and the organization's 280 incorporators must approve it as well, and will likely make a decision by mid-January, according to the paper. If approved, the transition would take place July 1.
Go to the article from the Republican Journal >>
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