Health Midwest, Kansas City, Mo., battling for two states' approvals of its planned $1.1 billion sale to HCA, proposed creating a foundation for each state from the estimated $800 million proceeds of the deal. The health system said each foundation would begin with a board made up of 15 members selected by a community advisory committee and 15 members appointed by the current Health Midwest board. The Health Midwest appointees would be phased out over five years, reducing the boards to 15 community-selected members each. "It is not Health Midwest's decision on how these foundations will be implemented," a spokesman for Kansas Attorney General Carla Stovall said. "It is up to the attorney general." However, Stovall will review the plan, he said. Under Health Midwest's proposal, 80% of sale proceeds would be allocated to the Missouri foundation and 20% to the Kansas foundation. -- Patrick Reilly
Health Midwest proposes plan for sale proceeds
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