ProMedica committed to Coldwater until a sale is completed
COLDWATER — The sale of ProMedica Coldwater Regional Hospital is pending approval by Michigan’s attorney general.
Hospital president Alan Sattler said, “ProMedica is not leaving this community until we have a plan. In this case, a transition plan that makes sure we have a good smooth handoff to the buyer.”
For-profit Glendale, California-based American Healthcare Systems made an offer accepted by the Toledo-based health system.
The comments came at a Tuesday monthly breakfast meeting of Branch County Realtors at Hope Café.
The attorney general must approve the sale of the former county-owned hospital sold to ProMedica in January 2018.
Sattler said a decision is expected this fall. If approval is denied, “I don’t know what we’ll do. But we’re not going to just pick up and go willy nilly. We’ll have to figure it out plan B. I don’t know what Plan B is.”
ProMedica Coldwater lost $12.6 million last year. ProMedica’s corporate strategic plan changed in 2018 when the company hoped to create a regional healthcare system.
Prior story What we know about the hospital chain looking to purchase ProMedica Coldwater
ProMedica owns hospitals and health services in Monroe and Lenawee counties, close to Toldeo.
When ProMedica bought Coldwater, the chain sought to purchase other area hospitals. That included Jackson Health Systems, but ProMedica ultimately lost out to Henry Ford Health from Detroit as it built a system down I-94.
Sattler said, “The prevailing logic around health care, you create these hospitals that feed the main hospital kind of a spoke in the hub,”
ProMedica reported a 2022 operating loss of nearly $400 million in federal filings compared to an operating income of $141 million for 2021.
In his 38 years with ProMedica, Sattler said, “Financial stressors now have been just enormous.”
But the president said that applies to all hospitals after COVID-19 and less federal funding.
“Even if you’re not for profit, you have to have a profit to reinvest back into your community, into your facilities,” Sattler explained.
ProMedica sold off its money-losing national nursing home company and its profitable home health and hospice business.
“The home health and hospice here was not part of that transaction. They are staying with Coldwater,” Sattler said.
The president said, “We’re completely committed to this buyer, working with the AG and her office to have a successful outcome here. We will work hard to make sure that happens.”
Kathy Merrill, president of the local hospital trustees, said to make sure Coldwater continues to have a hospital use its services. “We need to support the hospital, go to this hospital for services. Don’t drive up to Kalamazoo, Marshall, or Indiana for something we offer here at Coldwater.”
Merrill said, “The idea of keeping this hospital viable is we have patients in this hospital.”
Subscribe Follow this story. subscribe to the Daily Reporter.
Sattler said ProMedica Coldwater is committed to patient safety and care. Rated in the top 28% in the state by Leapfrog for three quarters for care and safety, Coldwater is in the process of Joint Commission independent reaccreditation.
The Coldwater Hospital received the Platinum Award from the state for its patient safety.
Merrill said, “Our quality is extremely good. So, we really do need to continue to support this hospital.”
— Contact Don Reid: dReid@Gannett.com.
This article originally appeared on Coldwater Daily Reporter: ProMedica committed to Coldwater until a sale is completed
