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Memorial Health System saw an increase in its profit margin of $3.9 million, slightly ahead of budget expectations. But overall, it lost $10 million in May, due to unrealized losses in the stock market, said interim CEO Mike Scialdone. Scialdone highlighted Memorial’s financial performance in his monthly presentation to the Colorado Springs City Council. Year-to-date,… Continue Reading Memorial posts $10 million loss for May due to stock losses

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City and community leaders have launched a marketing campaign designed to convince voters to approve the nearly $2 billion lease of Memorial Health System. The campaign, called “Great City, Great Care,” is being led by Stephannie Finley, former vice president of government affairs for the Greater Colorado Springs Chamber of Commerce who currently works at… Continue Reading Marketing campaign launched to urge yes vote on Memorial

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During a low-key ceremony, city and hospital officials signed the official documents for the proposed Memorial Health System lease to the University of Colorado Health. Committee members chosen specifically for the task – Councilors Merv Bennett, Brandy Williams. Jan Martin and City Attorney Chris Melcher – signed on behalf of the city, while UCH CEO… Continue Reading Officials sign paperwork for Memorial lease

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When Mike Scialdone took the job as CFO of Memorial Health System four years ago, he said the hospital’s community connection was the attraction. That connection has been at the center of more than two years of debate about the future of the hospital He weathered the controversial exit of CEO Larry McEvoy and was… Continue Reading Scialdone guiding Memorial during uncertain times

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The University of Colorado Hospital is a success story — and Colorado Springs is hoping a lease agreement and partnership with UCH will make Memorial Health System into one, too. UCH’s list of successes is long. It’s a $900 million-a-year enterprise, employing 4,100 people, ranked among the top 5 percent of the nation’s hospitals for… Continue Reading UCH brings run of recent successes into MHS lease

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The proposed lease of Memorial Health System got one step closer to reality with the approval of five resolutions at a special meeting of the Colorado Springs City Council.   While several city council members were evacuated due to the Waldo Canyon fire, the Council had to pass the ballot language no later than today… Continue Reading Amid fire evacuations, Council passes Memorial resolutions

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Colorado Springs City Council will meet Wednesday to discuss Memorial Health System lease and to lay the parameters of a new foundation to be created from the proceeds of the lease with the University of Colorado Health. The council meeting is set for 10 a.m. at council chambers, but Memorial materials will be available on… Continue Reading City calls special council meeting for Wednesday

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Memorial Health System is the official hospital of the United States Olympic Training Center in Colorado Springs. In the first-of-its-kind agreement, Memorial will provide both general and specialized care to athletes training in the city, as well as provide medical support for USOC sports events in Colorado Springs. It’s hoped that other training centers will… Continue Reading Memorial to become official USOTC health system

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City officials are hammering out the details of how the foundation from the proceeds of the Memorial Health System.   Details will be shared with city council – and the public – at Monday’s informal council meeting, said City Attorney Chris Melcher.   Governance of the new foundation is the sticking point.   “I think… Continue Reading Council to get Memorial foundation details at Monday’s informal meeting

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University of Colorado Health is counting on its national reputation to turn around Memorial Health System’s finances and recoup its investment in leasing the hospital system. Continue Reading Memorial adds up to high-stakes deal for UCH

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