Munroe Regional Medical Center,as well as Community Health Systems. The long-term lease was finalized today, securing a promising future for the hospital. Under the terms of the transaction, the following commitments have been made:
- The infusion of at least $150 million in capital improvements to the healthcare facilities to advance the master facility plan.
- An additional commitment has been made to invest $75 million in capital expenditures in equipment, physician recruitment and new service development over the initial five years following the transaction close.
- Employees in good standing have been hired into the same positions, at the same rate of pay, with their years of service recognized.
- Relationships are continuing with all physicians in good standing currently serving on the hospital’s medical staff.
- The hospital will continue charity care policies to help serve indigent patients and participate in the Medicare and Medicaid programs.
- A local board of trustees will be appointed comprised of community leaders and members of the hospital’s medical staff.
“This new affiliation will support healthcare delivery in our community with the infusion of new resources which will enhance our facilities and ability to continue to provide high quality care to the patients we serve,” said Rich Mutarelli, Chief Executive Officer of Munroe Regional Medical Center. “Once again I want to take the opportunity to thank the Marion County Hospital District Trustees and the Munroe Regional Health System Board of Directors for their leadership through this process. They have ensured Munroe’s future will remain strong and we are excited about what the future holds for the medical center and our community.”
UF Health Shands Hospital will have a clinical affiliation agreement with Munroe Regional as it continues to invest in clinical integration. UF Health Shands Hospital and Munroe Regional will develop a clinical affiliation committee composed of physicians from the hospital’s medical staff and from University of Florida’s faculty to provide for the development of clinical programs in Ocala that would benefit patients in the surrounding community. The affiliation will also explore academic collaborative opportunities including the possibility of a residency affiliation between the hospital and Shands.
“The future of Munroe is strong and Munroe’s medical staff looks forward to building on the quality of care we have delivered to our patients for the past 116 years,” said David Ethier, M.D., Chief of Staff at Munroe Regional Medical Center. “We will be a stronger healthcare system and are excited that our medical staff policies, procedures and quality initiatives which we have established will not change as a result of this transition.”
As a result of the transaction, Munroe Regional Medical Center will change its tax-status and begin paying property and other taxes further supporting the community it serves.