COLDWATER, MI (WTVB) – The Community Health Center of Branch County’s major financial recovery in 2015 was documented at last night’s hospital Board of Trustees meeting where CHC President and CEO Randy DeGroot also reported all details appear to be in place to sign a strategic management agreement with ProMedica Health to take effect February 1, 2016.
Net income last year at the Health Center was $1.1 million, a more than $4 million turnaround from 2014 when CHC had a $3.2 million loss. The December balance sheet reviewed last night also showed that for the year cash on hand had increased $6.5 million while long term debt had decreased $1.6 million.
The pending management deal with ProMedica will open the three year window during which the Toledo, Ohio based non-profit can acquire the county owned hospital.
