SVMHS Affiliation Process in Continued Due Diligence
SALINAS, CA, June 18, 2012 - Salinas Valley Memorial Healthcare System (SVMHS) agreed to extend the deadline for submittal of letters of intent from HCA and Natividad Medical Center (NMC), both of which have been invited by SVMHS to participate in more detailed discussions between parties regarding a future association with SVMHS. The original due date for the submission of the letters of intent was June 15th, however SVMHS agreed to extend that deadline so that more time could be spent in the due diligence process. HCA and Natividad will now have until July 2, 2012 to submit letters of intent.
Letters of intent are non-binding documents that are expected to more fully outline specifics of an affiliation between SVMHS and the proposing organization.These documents will be the result of a thorough due diligence process in which extensive information has been shared between the organizations.
After receiving and reviewing the letters of intent, the SVMHS Board of Directors will determine if an affiliation with either HCA or NMC is in the best interest of the Healthcare District, or if the Healthcare System should remain as it is now.The timeline for this project currently calls for that decision to be made at the July 26, 2012 meeting of the SVMHS board of directors. However, in the interest of proceeding carefully and thoroughly, the timeline is subject to change.
“This decision is monumental for our Healthcare System, and for the community we serve,” said Jim Gattis, president of the SVMHS Board of Directors.“This is a decision that cannot be rushed.