December 22nd, 2017
Great River Health System and Fort Madison Community Hospital (FMCH) have entered into an agreement to evaluate a merger of the two health care facilities. The due diligence phase, which helps determine viability of a merger, is expected to last three to six months.
A merger would help ensure continuation of high-quality primary and specialty care in southeast Iowa by a locally owned health system. Great River Health System is based in West Burlington, and FMCH is in Fort Madison.
“This will be two historically competitive organizations exploring the idea of creating an alliance – the greatest opportunity our communities have ever had in solidifying a foundation upon which all of our patients can receive comprehensive, coordinated care long into the future,” said FMCH President and CEO Jeremy Alexander. “It would also create an environment friendly to new and exciting specialties.”
The agreement was a decision by the boards of directors at both organizations. The evaluation begins as 20-year Great River Health System President and CEO Mark Richardson retires and new executive Matt Wenzel assumes leadership Tuesday, Jan. 2.
“To remain financially strong in health care today, hospitals and health systems must work together to continue providing quality care while facing reduced reimbursements,” Richardson said. “Partnering with FMCH would, foremost, benefit patients and improve the stability of our organizations.”