Memorial Hospital, Fremont, Ohio, announced that it had signed a letter of intent to affiliate with ProMedica health system.
Ohio hospital plans to affiliate with ProMedica
Terms of the transaction are expected to be worked out over the next 90 days or so, according to the release from the not-for-profit hospital, which has 102-beds and is about 30 miles southeast of Toledo, Ohio, where eight-hospital ProMedica is based. Not-for-profit ProMedica recently lost what likely will be the first round in an ongoing battle with the Federal Trade Commission, which is seeking to undo ProMedica's purchase of 216-bed St. Luke's Hospital, Maumee, Ohio.
Fiscal 2011 was the fourth straight year that Memorial has had a positive operating margin, according to the release.
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