LAWSUITS SAID TO BE LOOMING IN HEALTH SYSTEM SPAT …
|| By FITSNEWS || It’s no secret Providence Hospital of Columbia, S.C. is looking for a buyer. In fact according to our sources, the facility – owned by the Ohio-based Sisters of Charity Health System – is reportedly on the market “due to the vagaries of Obamacare.”
It’s also no secret Providence leaders have been in negotiations with a Tennessee-based company – a deal which was supposed to have been approved this week.
On the day the memorandum of agreement was reportedly signed, though, rival Columbia hospital system Palmetto Health announced it had entered into an agreement with the Moore Orthopedic Clinic – a Midlands-based practice specializing in pediatrics, joint replacement and sports medicine.
The move was totally unexpected – hitting Providence like a ton of bricks, we’re told.
Why does this matter? Well, Moore Orthopedic has partnered with Providence for the last nine years. In fact Providence has sunk tens of millions of dollars into its Providence Orthopedic Hospital in northeast Richland County, S.C. – a facility which was run by hospital vice president Ryan Hall.
According to our sources, Hall – who resigned from Providence a few weeks ago (and promptly took a job with Palmetto Health) – was an integral part of the negotiations between Providence and the Tennessee-based firm.
Now he’s being accused of “manipulating” the deal.
The immediate result of this alleged manipulation?
“Providence is left with an expensive shell at the northeast (location) without assumed medical staff,” our source said.
The Tennessee firm has a three-month grace period to back out of its planned purchase of Providence – which ironically is the same time frame for the completion of the Moore-Palmetto Health deal.
Millions of dollars – and medical services for thousands of patients – hang in the balance.
“The viability of a long term private institution may be at stake,” our source said, referring to Providence’s future.
Obviously we’ll be following this case closely as we’re told “multiple lawsuits” are in the works …