Credible Buyer Seeks to Finalize Acquisition of MetroSouth Medical Center in Blue Island, IL
MetroSouth Medical Center Owner Chooses Closure vs. Sale of Hospital
By: MSMC Management, LLC
During the due diligence process of reviewing MSMC financials and pertinent contracts, we identified recurring conflicting statements and misleading agendas from hospital management at both local and corporate levels, communicated to hospital employees, the City of Blue Island, and the State of Illinois. For current ownership to portray ethical intent, while systematically dismantling the services and infrastructure of what could be a financially thriving hospital, underscores the issues we encountered in our negotiations. Additionally, we agreed upon the ultimate purchase price with Quorum Health and secured the financing to acquire the hospital. However, the representations and warranties were not appropriate for this transaction and led Quorum Health to stop negotiations. Ultimately, we believe Quorum Health was not intent on selling us the hospital.
If there has been some silver lining is that hospital employees chose to organize themselves by launching a grass roots political campaign to keep the hospital open. The employees were met with threats of retaliation and intimidation by the hospital administration if they continued their efforts. To view the petition, please follow the link: https://www.gopetition.com/
We have engaged the City of Blue Island's Mayor and the State Representative of the district. If the community at large does not apply adequate pressure to help keep the hospital open, it will translate to the loss of hundreds of jobs, cause the financially struggling City of Blue Island to lose crucial tax revenue, and the most vulnerable (the poor, the elderly and the chronically ill) will lose access to medical care close to home.
We are available for further comment and continues to seek a viable solution to avert the current fate of MetroSouth Medical Center. As well, we can provide some pertinent documentation showing the seriousness of our intent to purchase the hospital.
MSMC Management, LLC