COLDWATER, MI (WTVB) – The Community Health Center of Branch County’s streak of profitable months for 2015 stretched to 10 straight in October as CHC continues to move forward on an expected agreement by the end of this month that eventually would lead to the sale of the county owned hospital in Coldwater.
The Health Center’s Board of Trustees, at their regular November meeting last night, heard that the October net income of nearly $167,000 pushed the year to date profit to slightly over $1 million. That means the difference between where the bottom line was with red ink in October 2014 and where it stands now shows nearly a $4 million turnaround.
The hospital board last night also approved a 2016 operating budget for CHC that projects a net income of $650,000 for next year.
At its October 26 meeting, the Health Center Board passed a motion recommending CHC enter into a 3 year management and asset purchase agreement with a Toledo, Ohio based non-profit company, ProMedica Health. The agreement must receive final approval from the Branch County Board of Commissioners. The county board will conduct a public hearing on the issue next Tuesday and also on the recommendation to maintain a tax exempt status on CHC bonds.
It’s anticipated Commissioners will approve the management agreement at its final meeting of 2015 on December 22, 2015.
