ProMedica Coldwater still up sale while committed to serving Branch County
BRANCH COUNTY — ProMedica Coldwater Regional Hospital remains for sale as the hospital’s financials improved considerably in 2023, Arturo Polizzi, ProMedica president and CEO, told employees in a letter this week.
The Toledo-based healthcare chain president thanked employees for improving operating efficiencies and patient safety.
After a sale to California-based American Healthcare Systems last November fell through, Polizzi said, “We continue to believe the hospital, its programs, services, and physician network would provide strategic advantages to other healthcare systems.”
His letter stated there has been interest from parties interest in purchasing ProMedica Coldwater, however “Inquiries are at the very initial stages.”
Prior story ProMedica Coldwater still on the market after paying off county bonds
The closure of the obstetrics department at the end of 2023 caused community concerns.
Polizzi said, “We have no current plans for additional large-scale changes.”
He explained in the letter that “There will always be changes to optimize operations that maintain high quality and safety.”
The ProMedica president again promised, “ProMedica remains committed to the Coldwater community, our patients and the viability of PCRH.”
ProMedica said plans are underway to expand and enhance orthopedics, general surgery, and oncology services for Coldwater.
“We are also continuing to support capital needs that improve safety, quality and patient satisfaction,” Polizzi said. The hospital spent $660,000 in 2023 on capital improvements.
The hospital patients' services provided in 2023 included:
Emergency visits: 19,060
Inpatient admissions: 2,614
Outpatient visits: 100,554
Surgery patients: 2,599
Rehabilitation treatments: 48,138
Diagnostic imaging procedures: 43,253
Pain management visits: 3,743
Oncology patient visits: 12,025
In 2023, the total ProMedica Coldwater payroll with benefits was $38.3 million.
The hospital provided $3.5 million in uncompensated patient care.
The annual report showed total operating expenses per adjusted discharge decreased by 10%.
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ProMedica Health Systems posted a 2023 operating loss of $44.5 million compared to $470.9 million in 2022.
-- Contact Don Reid: dReid@Gannett.com
This article originally appeared on Coldwater Daily Reporter: ProMedica Coldwater still for sale but committed to Branch County
