TMC closely following developments in Green Valley

2014-judy-rich-standing-preferred-pose To Our Community,

We have received several questions regarding the recently announced bankruptcy sale of Green Valley Hospital to a California-based equity firm. According to the public announcement, there was only one bid received for the struggling medical center and that bid was accepted for the acquisition of the hospital alone and did not include the associated medical office buildings, hospital equipment and other related assets.  The bidder was actually a lender who had loaned money for the time it was in bankruptcy.

TMC HealthCare has been following the Santa Cruz County hospital’s bankruptcy proceedings carefully, with an interest in supporting the surrounding communities. As a nonprofit community hospital, we continually seek opportunities which are consistent with and further our mission to provide exceptional healthcare with compassion. However, any new venture or investment must be financially viable. Since the Green Valley Hospital has a history of substantial financial losses, we needed to be mindful of how such an investment would impact our broader system. After a careful analysis of the opportunity in Green Valley, it did not make sense to participate in the current  bidding process for that hospital asset. We will continue to monitor the situation to see if an appropriate opportunity arises for our involvement with the hospital.

TMC has a long-standing relationship with the Green Valley residents, so please know that we will continue to explore how we can best and most appropriately serve that population.

If you have further questions, please call Julia Strange, vice president, Community Benefit, at 520-324-2017.

Sincerely,

Judy Rich

Comments

  1. Dr S James Manilla says:

    Please forward to Judy Rich.
    Judy: Read your posting with great interest. I believe it was a good decision.
    I have followed your amazing career at TMC for many years and have greatly admired your leadership and accomplishments since you became CEO. Your predecessor, Don Shropshire, and I had a long history together. His long tenure at TMC and mine as former Chanellor of Pima Community College, we had many chances to meet regularly for lunch or just casual chat.
    Judy, we have met but with your vast network of associates and friends you may not remember me. Our mutual friend , David Peachin, first introduced us at one of your community forums or something similar. Also, three of your employees, Michael, Donna and Erica, in your development office worked for me at the University of Arizona Foundation.
    My very best you and keep up the great work you are doing for our community. Jim Manilla

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