There appears to be plenty of interest in Huntsville Memorial Hospital. Put on the sales market back in February, HMH has received more than a dozen inquiries from prospective buyers, according to Walker County Hospital District chairman Robert Hardy.
“We have been working closely and cooperating with the administration and board of directors of the hospital with regard to the request for proposal process,” Hardy said Friday. “The district is working with Hilltop Securities to issue a confidential information memorandum explaining the district’s goals.
“We are pleased that initial contacts with hospital systems indicate a strong level of interest. Several well-known health systems have signed a nondisclosure agreement and are waiting for the confidential information memorandum,” Hardy added.
Those nondisclosure agreements, according to Hardy, include packets full of information that the entities will share with one another, with the promise to keep everything confidential. Financial information, hospital statistics, detailed lists of equipment, patient information and even a list of equipment the hospital is lacking will be included in the report from HMH.
In the next two or three weeks, hospital administrators and members of the Walker County Hospital District will finalize the proposals, then any interested parties will respond to those proposals.
“Our consultants (Hilltop Securities) hope to issue the confidential information memorandum soon,” Hardy said. “The district and representatives of the hospital staff and board of directors will consult during the decision-making process. We are excited about the possibilities this holds for our community.”
Hardy said there have been at least 15 inquiries about HMH made by different hospital systems.
“It’s good to have that kind of interest so that we can get the best deal for Walker County,” he said.
Hardy believes a future sale of the hospital will be a plus for everybody involved, especially the patients who come to HMH for their health-care needs.
“We’re going to see some new additions at the hospital,” Hardy said. “We know we need some more intensive care beds and we need to remodel parts of the hospital. We need more intermediate care beds and regular hospital rooms, too.
“We’re asking that to be part of the proposals — to upgrade and remodel the facility, plus replace some of our older equipment.”
Hardy expects to get proposals back from potential buyers sometime early this summer.
“We’ll evaluate them and narrow down the field and go from there,” he said.