St. Joseph Medical Center, still reeling from the stent debacle, will enter into exclusive negotiations with the University of Maryland Medical System to sell the hospital to UMMS. The Baltimore Sun says that after a year-long selection process it came down to three finalists that also included LifeBridge Health, which owns Sinai and Northwest Hospital, and Ascension Health, which owns St. Agnes Hospital in Baltimore. The hospital said Catholic Health, as well as federal, state and church authorities, will have to approve the next owner.
I don’t understand this process. You are negotiating for the rights to exclusively negotiate? Could this be one reason why health care costs are so high?
This Towson hospital was really on the rise until hundreds of patients found out that St. Joe’s head cardiologist was performing unnecessary stent surgeries. The hospital St. Joseph’s relied on to determine which stents were unnecessary? UMMS.
Assuming the deal is consummated, UMMS will be buying a still good hospital, but one facing a great deal of potential liability in these lawsuits.