Sanford Health took a step toward buying Clearwater Health Services of Clearwater County, Minn., by signing a letter of intent, according to a Sanford news release.
Sanford and Minn. system sign letter of intent
The nonbinding agreement could lead to Sanford acquiring Clearwater's assets and leasing its properties. The two parties will work together on additional analyses, due diligence and communications over the next several months, according to the release. Clearwater serves Minnesota's North Woods and includes Clearwater County Memorial Hospital in Bagley, Minn., an attached clinic, ambulance services and a clinic in Clearbrook, Minn.
"This partnership with Sanford will supply us with the expertise needed to provide a stable environment for patients and staff," said Daniel Stenseng, Clearwater County board chairman. "Sanford has a long history of successful healthcare management that will allow staff to focus on caring for patients."
Clearwater County owns the hospital and its assets. It already holds a management agreement with Sanford, which is based in Fargo, N.D., and Sioux Falls, S.D.
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