Dickinson County Healthcare System, UP Health System end acquisition discussions
IRON MOUNTAIN – Dickinson County Healthcare System and UP Health System announced today that the organizations have terminated their non-binding letter of intent that was signed in July after an inability to reach agreement on the terms of an acquisition, according to a joint written statement given to area media.
With the termination of the letter of intent, Dickinson County Healthcare System is no longer in exclusive discussions with UP Health System and will explore all options for the hospital’s future, including potential alternative arrangements with UP Health System, the release states.
It was unclear what alternative arrangements were being referred to.
“We have been transparent with the community and our stakeholders about the financial distress our hospital has faced, similar to many other rural hospitals across the country,” Bill Edberg, chairman of the Dickinson County Healthcare System Board of Trustees, said in the release. “The management team and Board will continue to work diligently to identify the right path forward for the health system. I am hopeful that there will continue to be even stronger support from all stakeholders in helping our community continue to have access to quality healthcare close to home.”
Brian Sinotte, market president of UP Health System, commented, “UP Health System is still firmly committed to serving the UP and believes that Iron Mountain and Dickinson County deserve access to quality local care. While we are no longer discussing this acquisition arrangement, we will continue to explore collaborative efforts with Dickinson County Healthcare System to provide healthcare in Iron Mountain and Dickinson County.”