FAIRMONT —
Fairmont General Hospital continues to seek a strategic partner and does not have a deadline by which an announcement will be made, said Robert C. Marquardt, the facility’s CEO.
Marquardt made his statement following the hospital’s monthly board of directors meeting Monday afternoon in which the budget for 2013 was passed.
If a deal is struck with a strategic partner that would take over the hospital and the union receives the blessing of the West Virginia Health Care Authority through the Certificate of Need (CON) process, then the budget essentially would be void, Marquardt said.
“It would become a moot point at that stage in the game,” he added.
Fairmont General officials announced at the end of last year that a strategic partner would be sought to help the hospital, especially in light of the health care changes that will be coming, mostly starting in 2014, with the Patient Protection and Affordable Care Act that was passed by Congress in March 2010 and signed by President Barack Obama.
The hospital hired New York-based Cain Bros., an investment banking firm that specializes in hospital mergers and acquisitions. Eventually, the hospital signed nondisclosure deals with 11 facilities, some in West Virginia and others outside of the state.
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