Toledo, Ohio-based ProMedica has made a bid to assume the day-to-day operations of University of Toledo Medical Center (UTMC). Under the proposal, the University of Toledo would maintain ownership of UTMC. ProMedica would provide management and other services.
University of Toledo stated it was considering a sale of its hospital after the medical center reported more than $12 million in operating losses through the first half of fiscal year 2020, a loss of $7 million in fiscal 2019 and a $3.6 million loss in fiscal 2018. ProMedica said in its proposal it believes it can provide a unique local solution that will enable UTMC to become financially stable. ProMedica said if it wins the bid, it would work to stabilize UTMC’s finances, replace its outdated EMR and continue to offer academic and research opportunities at UTMC. A third-party advisor will review the submissions and make recommendations to the university’s board. Shortly after ProMedica announced its bid, community members voiced concerns about the potential partnership.
ProMedica is a health system serving communities in 28 states. The health system includes 13 hospitals, four ambulatory surgery centers, and more than 400 post-acute facilities. ProMedica has nearly 56,000 employees and more than 2,100 physicians with privileges system-wide. In collaboration with educational institutions locally and regionally, ProMedica offers research, grants, and residency programs, as well as fellowship, clerkship, nursing, pharmacy, allied health, and continuing education opportunities.
This was reported by Becker’s Hospital Review June 11, 2020.
Contact information: ProMedica,100 Madison Avenue, Toledo, Ohio 43604; 800-774-3627; Website: www.promedica.org