Each Member Entity will receive $15 million to improve the health and wellbeing of their community
Mission Health’s Board of Directors today announced that if and when the Mission Health and HCA Healthcare (HCA) transaction is closed, each Entity Legacy Foundation* will receive a distribution of $15 million dollars to improve the health and wellbeing of their community.
None of the existing Foundations within the Mission Health system are part of the contemplated transaction with HCA. They are independent and will remain so. However, as part of the contemplated transaction, each will be redefining its goals and purpose since their purpose will no longer be to give funds to their local hospital or care facility. The Member Legacy Foundations that will be created or converted are:
- Angel Medical Center Foundation*
- Blue Ridge Regional Hospital Foundation
- CarePartners Foundation
- Highlands-Cashiers Hospital Foundation
- Mission Hospital McDowell Foundation
- Transylvania Regional Hospital Foundation
*Angel Medical Center currently does not have a foundation and will create one.
The proceeds from Mission Health will be distributed over a three year period beginning with $5 million upon closing of the contemplated transaction with HCA Healthcare. Those funds are intended to build infrastructure capacity for the future and to improve the health and wellbeing of their local community. The terms of the disbursement of funds in years two and three will be contingent upon each Foundation’s previous year’s progress and its commitment to continue to develop community capacity to improve the health and wellbeing of its citizens and a successful start to improving the health and well-being of their communities, including a focus on the local social determinants of health. Local impact capacity will prepare the Legacy Foundations to work in partnership with the Dogwood Health Trust to dramatically improve the health and well-being of all people and communities of Western North Carolina.
“Throughout the due diligence process, Mission Health’s Board has discussed various ways to provide additional support for the communities served by our Member Entities,” said Mission Health Board Chair John R. Ball, MD, JD. “In addition to significant protections against program or facility closures for our rural communities, we are pleased to provide each Member Entity with proceeds from the sale of Mission Health to benefit their communities directly and locally.”
“Nearly all experts agree that the majority of an individual’s health status is determined by behavioral and lifestyle choices and other social determinants of health,” said Mission Health Board Vice Chair John W. Garrett, MD. “During the 2015 Community Health Assessment, more than 70 percent of key stakeholders surveyed across the region identified social determinants of health as a “major contributor” to local health issues. We know that Mission Health will continue to provide the high quality services that our communities have come to know and trust, so it’s important to focus on the things that medical care does not impact or cannot impact alone to most positively impact the health and wellbeing of all people and communities of Western North Carolina.”