FORT WAYNE, Ind. (WOWO): The Community Health Systems’ (CHS) board has denied a $2.4 billion offer for the Lutheran Health Network.
10 local doctors formed Fort Wayne Physicians LLC and approached CHS in November about selling the network to a private equity firm or other investors, according to the Journal Gazette.
According to CHS, the doctors have refused to sign a non-disclosure agreement, failed to submit a written offer, and demanded that CHS pay their legal and financial advisor fees. The doctors have also failed to specify how much of the network they wish to buy.
“The physicians have failed to satisfy any reasonable criteria of a legitimate offer,” CHS officials said today in a statement.
CHS officials confirmed Monday their commitment to making $500 million in Lutheran Health Network upgrades during the next five to six years.
That’s not good for employees at Lutheran. Rumor has it the current owners will be bringing (hiring) in nurses from out of the country to fill nursing positions. Apparently, these workers have been schooled in their own country and brought in through the work VISA process (they’ll be paid less then American workers). I really hope that’s just a rumor and not a sign of things to come in the healthcare industry. That’s been devastating to American workers in the IT industry.