Posted on Jun 17, 2022
Buy and bust: when private equity came for two rural Missouri hospitals
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Posted 2 y ago
Responses: 4
In many rural areas of GA, the large city hospitals have been buying the rural hospitals and keeping them open.
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Maj Robert Thornton
One of the main issues is the smaller rural hospitals can’t offer some of the expensive testing, etc PO1 William "Chip" Nagel. One way the rural hospital I worked in kept afloat was the prison contracts with 7 surrounding counties.
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PO1 William "Chip" Nagel
..."A Sales Pitch Heavy on Charm
Audrain County officials were easy prey for investors. Noble was the only bidder for the failing hospital, said Lou Leonatti, the longtime local attorney, and many in Mexico, a town of 11,000 and the county seat, “believed we were saved.”
Dana Keller, the head of Mexico’s Chamber of Commerce who felt a hospital was essential to keeping business in town, said she set up meetings so Noble’s executives could “talk about their philosophy for rural health care.”
Leaders who called themselves “Progress Mexico” tried to evaluate the startup. “At the time we looked at it, Nueterra had an ownership interest, Don Peterson had an ownership interest, Drew Solomon, and Tom Carter,” Leonatti said."...
..."A Sales Pitch Heavy on Charm
Audrain County officials were easy prey for investors. Noble was the only bidder for the failing hospital, said Lou Leonatti, the longtime local attorney, and many in Mexico, a town of 11,000 and the county seat, “believed we were saved.”
Dana Keller, the head of Mexico’s Chamber of Commerce who felt a hospital was essential to keeping business in town, said she set up meetings so Noble’s executives could “talk about their philosophy for rural health care.”
Leaders who called themselves “Progress Mexico” tried to evaluate the startup. “At the time we looked at it, Nueterra had an ownership interest, Don Peterson had an ownership interest, Drew Solomon, and Tom Carter,” Leonatti said."...
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