The financially-troubled Dickinson County Healthcare system is once again looking for a partner.
A deal that was announced in July for U-P Health System to acquire the Iron Mountain hospital has been terminated.
The two parties made the announcement in a joint statement on Tuesday. It’s the second time that the hospital has had a deal fall through, after Bellin Healthpulled out of an agreement earlier this year. Dickinson Healthcare Board Chairman Bill Edberg said in a statement said that they will —quote— continue to work diligently to identify the right path forward for the hospital.
Press release is posted below:
Dickinson County Healthcare System and UP Health System announced Tuesday that the organizations have terminated their non-binding letter of intent that was signed in July after an inability to reach agreement on the terms of an acquisition.
With the termination of the letter of intent, Dickinson County Healthcare System is no longer in exclusive discussions with UP Health System and will explore all options for the hospital’s future, including potential alternative arrangements with UP Health System.
“We have been transparent with the community and our stakeholders about the financial distress our hospital has faced, similar to many other rural hospitals across the country,” said Bill Edberg, chairman of the Dickinson County Healthcare System Board of Trustees. “The management team and Board will continue to work diligently to identify the right path forward for the health system. I am hopeful that there will continue to be even stronger support from all stakeholders in helping our community continue to have access to quality healthcare close to home.”
Brian Sinotte, market president of UP Health System, commented, “UP Health System is still firmly committed to serving the UP and believes that Iron Mountain and Dickinson County deserve access to quality local care. While we are no longer discussing this acquisition arrangement, we will continue to explore collaborative efforts with Dickinson County Healthcare System to provide healthcare in Iron Mountain and Dickinson County.”