Local hospitals plan partnership deal
UPDATE 9/30/16 4:05 PM: The Salinas Valley Memorial Healthcare System Board of Directors voted unanimously this afternoon to approve a proposed partnership with Montage Health, the parent company of Community Hospital of the Monterey Peninsula.
The Montage board is expected to vote on October 6. If approved, the agreement would take effect immediately, resulting in joint ownership of three healthcare companies: Aspire Health Plan, Community Health Innovations, and Coastal Management Services.
ORIGINAL STORY: Two Monterey County hospitals are considering joining forces to co-own three local healthcare companies.
The partnership would make Salinas Valley Memorial Healthcare Systems and Montage Health (formerly Community Hospital Foundation) joint owners of Aspire Health Plan, Coastal Management Services and Community Health Innovations, according to a press release issued Friday by SVMHS.
Under the agreement, SVMHS would invest over $4.5 million for a 49 percent share in the three companies. Montage Health would own the remaining 51 percent.
Aspire Health was founded in 2013 to provide a comprehensive Medicare plan to local patients. Community Health Innovations coordinates patient care, disease management and wellness. Coastal Management Services focuses on insurance claim processing.
The plan requires approval by both organizations’ board of directors. Salinas Valley Memorial Healthcare Systems will vote on the plan today and Montage Health directors are scheduled to vote October 6.
