MODERN HEALTHCARE inappropriately described the purchase of Milwaukee County's John L. Doyne Hospital by Froedtert Memorial Lutheran Hospital both as being a lease and as amounting to "$50 million over five years" (Dec. 18-25, 1995, p. 52).
Froedtert's purchase of Doyne is based on a cash payment of $4.1 million. Additional payments will be made to Milwaukee County over 25 years, based on Froedtert's growth in cash and investments from operations during that period of time. Milwaukee County reported the sale at $50 million based on its projections of future hospital cash flow. The only guaranteed payment to the county is the original payment of $4.1 million.
BLAINE J. O'CONNELL
Vice president of finance, chief financial officer
Froedtert Memorial Lutheran Hospital, Milwaukee