St. Margaret’s meeting ‘with larger health system’

Hospital hires investment bankers to further sale

By TOM COLLINS tcollins@shawmedia.com

St. Margaret’s Health has been “meeting with a larger health system regarding the potential acquisition of St. Margaret’s” in recent months, according to an internal memorandum Tuesday.

President and CEO Tim Muntz further advised employees because of confidentiality and a nondisclosure agreement, “we are unable to disclose the identity of the larger system at this time.”

“To further facilitate these discussions, and to ensure St. Margaret’s achieves the highest value from any potential transaction, we have retained Juniper Advisory to serve as our investment bankers,” Muntz said in the memo.

Putnam County Community Center to hold caregiver program April 10

The Putnam County Community Center will be offering a free caregiver stress-busting program from 10 to 11:30 a.m. Monday, April 10, at 128 First St. in Standard.

The program will be geared toward family caregivers that care for loved ones with memory loss or dementia. This is a holistic program that focuses on the caregiver.

“As our investment bankers, Juniper has initiated a marketing campaign to assist us in identifying other parties that may be interested in acquiring St. Margaret’s.”

Linda Burt, vice president of quality and community services for St. Margaret’s, confirmed the authenticity of the document.

The memo marks the first time St. Margaret’s has acknowledged widespread rumors it has been in talks with another health care network about acquiring the Spring Valley hospital and/or the closed Peru hospital.

The former Illinois Valley Community Hospital in Peru was abruptly closed in January. St. Margaret’s officials said years of mounting financial pressures left the hospital with no emergency room staff, without which the hospital cannot remain open. St. Margaret’s has sought to operate the Peru facility as a rural emergency hospital.

Participants can expect to learn stress management techniques, relaxation and coping strategies. Meetings will last 90 minutes and will take place once a week for nine weeks.

Activities and programs will be offered for the care recipient during the meeting times. For information or to register for the program, call the PCCC at 815-339-2711 or 800-757-4579.

–ShawLocalNewsNetwork

The Illinois Senate Education Committee voted unanimously to advance legislation from state Sen. Tom Bennett (R-Gibson City) that would suspend the Teacher Performance Assessment requirement.