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Old 12-04-2013, 10:24 AM
 
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An Eastern Carolina hospital that's seen recent cutbacks and layoffs says it is searching for a partnership with another hospital or health system.

Lenoir Memorial Hospital says it's hired a Chicago-based financial advisory firm to help find a partner for the hospital.

Earlier this fall the hospital announced it was cutting jobs and services because of another year of expected red ink.

The hospital eliminated 85 positions. Sixty of those were through early retirement or voluntary departures, while 15 employees were let go.

LMH says it expects confidential discussions with a number of potential partners to begin in the spring and that process to take at least a year to complete.

"We recognize that the way healthcare is provided today - where it is offered, how it is paid for, how it is measured - is changing dramatically," said Ray Collier, chairman of the Lenoir Memorial Board of Directors. "We believe now, when Lenoir Memorial is financially strong, is the right time to look for a strategic partner," Collier added. "We can evaluate our choices from a position of strength and allow ourselves time to conduct a thoughtful and thorough review on our own terms."

Asked if the hospital would entertain a possible merger or purchase, a spokeswoman said they were nowhere near that yet.
Lenoir Memorial Hospital Seeking Strategic Partnership With Other Hospital Or System

It will be interesting to see what occurs. Vidant is the obvious frontrunner. Would a Triangle hospital (WakeMed/Duke/UNC) make a play? Or one of those out-of-state for profit puppy mills?
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Old 12-04-2013, 10:41 AM
 
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Vidant runs Duplin County on the other side of Lenoir County...you would think obtaining Lenoir would help its existing network.

I have wondered where Carolina East fits into the whole hospital network thing...long run. New Hanover has been courting the Charlotte based system and I don't see them going to Vidant. And I think the out of state crowd is realizing its not easy to work in the ENC market...think Washington County or Martin County.

I would think Vidant would continue to expand...if it doesnt, it may be susceptible long term to other competition in its region....for that reason, Lenoir may be an important acquisition to not lose to someone else.
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Old 12-05-2013, 04:42 PM
 
3,375 posts, read 6,263,938 times
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Originally Posted by HP91 View Post
Vidant runs Duplin County on the other side of Lenoir County...you would think obtaining Lenoir would help its existing network.

I have wondered where Carolina East fits into the whole hospital network thing...long run. New Hanover has been courting the Charlotte based system and I don't see them going to Vidant. And I think the out of state crowd is realizing its not easy to work in the ENC market...think Washington County or Martin County.

I would think Vidant would continue to expand...if it doesnt, it may be susceptible long term to other competition in its region....for that reason, Lenoir may be an important acquisition to not lose to someone else.
Vidant recently lost out to Wilson (Duke) and Johnston (UNC). Another possible hospital system is Novant Health. But it seems like Novant trys to stay in higher income areas, which Lenoir definitely isn't.
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