Issue link: https://beckershealthcare.uberflip.com/i/977748
16 CFO / FINANCE Premier Health to close 491-bed Ohio hospital before September By Alyssa Rege O fficials at Dayton, Ohio-based Pre- mier Health said the health system plans to shutter Good Samaritan Hospital, also in Dayton, before Aug. 29, 2018, according to the Dayton Daily News. Premier Health, which operates the 491-bed hospital, revealed plans in January to close the hospital before the end of the year, stat- ing operating two hospitals within 5 miles of each other — Good Samaritan Hospital and Miami Valley Hospital, also in Dayton — had become unsustainable. "While we had initially communicated a clos- ing toward the end of the year, we did say that some dynamics could result in a different closure date, due to the unpredictability and complexity that understandably comes with such transitions," Premier Health told the Dayton Daily News in a statement. Officials told the publication they would pro- vide an exact date within the coming months. In March, officials at the five-hospital system revealed the Good Samaritan Hospital's ma- ternity unit would become the first major unit to transition out of the hospital. Premier will transition the hospital's obstetrics and gyne- cology services to Miami Valley Hospital in April, according to a previous Dayton Daily News report. n Miami hospital files for bankruptcy: 4 things to know By Ayla Ellison M iami Medical Center, a 67-bed hospital that suspended patient services in Oc- tober 2017, filed for Chapter 11 bank- ruptcy protection March 9. Here are four things to know. 1. Leawood, Kan.-based Nueterra, along with its partners, acquired Miami Medical Center in 2014 and invested $70 million in the facility. Children's Health Ventures, the for-profit arm of Miami-based Nicklaus Children's Hospital, in- vested in Miami Medical Center with hopes of bringing a unique care model to South Florida. However, Miami Medical Center struggled to stay afloat. 2. The hospital suspended patient services Oct. 30, 2017, and subsequently laid off its 180 em- ployees. 3. In its bankruptcy petition, the hospital listed its assets as between $10 million and $50 mil- lion, and its liabilities as between $50 million and $100 million. 4. Miami Medical Center listed the creditors who have the largest unsecured claims against the hospital in its bankruptcy petition. Accord- ing to the petition, the hospital owes about $1.2 million to Cardinal Health, $1.4 million to Ara- mark Healthcare Support Services and about $802,000 to Miami Anesthesia Services. n CHS seeks to terminate spinoff agreements amid feud with Quorum By Ayla Ellison F ranklin, Tenn.-based Community Health Systems is seeking ear- ly termination of transition services agreements the company signed with Brentwood, Tenn.-based Quorum Health in 2016, ac- cording to a Securities and Exchange Commission filing by Quorum. The agreements at issue were entered in connection with Quorum's spinoff from CHS in April 2016. The agreements define services to be provided by CHS to Quorum, including those related to payroll pro- cessing, IT, billing, collections, patient eligibility screening and certain human resources functions. The transition services agreements generally have five-year terms, but CHS is seeking to end two of the agreements Sept. 30 or sooner if both sides agree to an earlier termination date. CHS is also open to discussing early termination of other agreements related to the spinoff, according to the SEC filing. The dispute over the two agreements dates back to August 2017, when CHS sent Quorum a demand for arbitration seeking payment of certain amounts allegedly withheld by Quorum under the agree- ments. While CHS claims Quorum owes $9 million under the two tran- sition services agreements, Quorum contends CHS issued the bills improperly. "We intend to vigorously contest the charges as not payable to CHS under the transition services agreements and have made a counter- claim for termination of the agreements as well as substantial dam- ages we believe we have suffered as a result of the transition services agreements and other actions taken by CHS in connection with the spinoff," Quorum said in the SEC filing. The matter is currently pending before the American Arbitration As- sociation, and the arbitration is scheduled for June 18 to June 29. A decision is expected in early August. n