Bon Secours Health System, Marriottsville, Md., announced plans to sell two-hospital Bon Secours Cottage Health Services, Grosse Pointe, Mich., a joint venture with Henry Ford Health System, Detroit. Peggy Moseley, a Bon Secours spokeswoman, said the owners will analyze bids from several prospective buyers for Cottage Health, which has struggled with declining volume in a competitive market. She said joint venture officials believe a local owner with a strong primary-care network may improve operations at the subsidiary, which includes 221-bed Bon Secours Hospital, Grosse Pointe, and 54-bed Cottage Hospital, Grosse Pointe Farms. Moseley said recent losses factored into the sale plans. Bon Secours owns 70% of the joint venture and had agreed to absorb all losses between September 2004 and August 2009 after accounting irregularities forced restatement of Cottage Healths 2002 earnings, according to financial records. Cottage Health lost $17.4 million in fiscal 2004 and $8.1 million in fiscal 2005, records show. Moseley said no date for a sale is set. -- by Melanie Evans
Bon Secours to sell Mich. venture
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