Mission Health’s Board of Directors announced Monday, Aug. 20, if and when the Mission Health and HCA Healthcare transaction is closed, each Entity Legacy Foundation will receive a distribution of $15 million to improve the health and well-being of their respective community.
None of the existing Foundations within the Mission Health system are part of the contemplated transaction with HCA. They are independent and will remain so. As part of the contemplated transaction, however, each will be redefining its goals and purpose since their purpose will no longer be to give funds to their local hospital or care facility. The Member Legacy Foundations that will be created or converted are:
• Angel Medical Center Foundation
• Blue Ridge Regional Hospital Foundation
• CarePartners Foundation
• Highlands-Cashiers Hospital Foundation
• Mission Hospital Mc-Dowell Foundation
• Transylvania Regional Hospital Foundation
Angel Medical Center currently does not have a foundation and will create one.
The proceeds from Mission Health will be distributed over a three-year period beginning with $5 million upon closing of the contemplated transaction with HCA. Those funds are intended to build infrastructure capacity for the future and to improve the health and well-being of their local community. The terms of the disbursement of funds in years two and three will be contingent upon each foundation’s previous year’s progress and its commitment to continue to develop community capacity to improve the health and well-being of its citizens and a successful start to improving the health and well-being of their communities, including a focus on the local social determinants of health.
Local impact capacity will prepare the Legacy Foundations to work in partnership with the Dogwood Health Trust to dramatically improve the health and well-being of all people and communities of Western North Carolina.
“Throughout the due diligence process, Mission Health’s board has discussed various ways to provide additional support for the communities served by our member entities,” said John R. Ball, Mission Health board chair. “In addition to significant protections against program or facility closures for our rural communities, we are pleased to provide each member entity with proceeds from the sale of Mission Health to benefit their communities directly and locally.”
The public may visit http://www.dogwoodhealthtrust.org for more information.
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