LOWELL, Mass.-Saints Memorial Medical Center has completed the sale of one of its two hospital campuses to AdvantageHealth, a Woburn, Mass.-based operator of post-acute rehabilitation facilities. The price wasn't disclosed. Saints was formed in 1992 through the consolidation of financially distressed St. John and St. Joseph hospitals in Lowell, but the combined operation continued to lose money amid declining revenues and a debt load of more than $70 million. In March 1994, the Hunter Group, a St. Petersburg, Fla., consulting firm, was hired to develop and implement a turnaround plan, and AdvantageHealth was hired to manage a 75-bed subacute-care operation established at St. Joseph after acute-care operations were consolidated at St. John. AdvantageHealth becomes the owner of the subacute operation as a result of the purchase. Saints will continue to provide urgent care, dialysis and ambulatory services at the facility under a lease agreement, a Saints spokesman said. The Hunter Group completed its assignment in April, and the medical center hired a new chief executive, Thomas Clark, formerly chief executive at St. Margaret Hospital in Boston. Saints expects to finish in the black for the year ended Sept. 30, 1995, the spokesman said.
NIAGARA FALLS, N.Y.-Niagara Falls Memorial Medical Center announced that it has taken over operation of an outpatient mental health treatment program for children. The program complements Memorial's inpatient program for children and teens. The outpatient program's operating certificate was transferred to Memorial from the Martha H. Beeman Foundation. The program is offered at three leased sites in Niagara Falls, North Tonawanda, N.Y., and Lockport, N.Y. Memorial paid the foundation about $45,000, mostly to offset the cost of new hardware and software acquired through the transaction, Thomas Sy, Memorial's senior vice president, said. The hospital also assumed payments on the three leased sites. In addition, Memorial created a new seat on its board of trustees for a Beeman Foundation appointee, and formed a board committee on child and adolescent mental health.
NORWALK, Conn.-Health Partners, a Norwalk-based physician management company, has entered a joint venture with two Kentucky medical groups. Under the deal, the Timmerman & Saelinger medical group and Family Physicians of Northern Kentucky merged to form Cincinnati Health Partners, with seven locations in three counties and 35 family-practice doctors and internists. The group contracts with a management service organization it owns jointly with Health Partners. Health Partners manages groups and independent practice associations, primarily in the New York and Washington markets.