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Memorial CEO Larry McEvoy will leave the hospital system May 4, and be replaced by CFO Mike Scialdone on an interim basis. Continue Reading Memorial CEO McEvoy steps down

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Credit-rating giant Moody’s downgraded Memorial Health System’s outlook from stable to negative last week, and even though the hospital has retained its A3 bond rating, it could still spell trouble down the road. A negative outlook could affect Memorial if it were seeking to borrow money, said Allan Roth, a local investment specialist and contributor… Continue Reading Moody’s downgrades Memorial outlook

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Memorial paints rosier financial picture

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Memorial Health System’s financial picture is looking pretty rosy these days – thanks to some changes made internally and to the rebounding stock market. Memorial reported January earnings at $4.8 million, exceeding its budget and the previous year’s numbers. The information was part of the hospital’s monthly report to the Colorado Springs City Council. “In… Continue Reading Memorial paints rosier financial picture

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Memorial Health System’s board president challenged city council member Tim Leigh on every single point of his complaints about the hospital and the way it’s being run. Last week, Leigh sent a widely-dispersed email that said he’d been told about many issues with Memorial: some faulty real estate deals, some issues with doctors and some… Continue Reading Memorial responds to council member’s criticisms

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Leigh, Memorial exchange barbs

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City Councilman Tim Leigh sent an e-mail today calling for the ouster of Memorial Health System leadership and listed a number of things he says show management incompetence. Memorial board chairman Jim Moore responded by calling Leigh’s points “anonymous rumors and innuendo” but chose not to refute the accusations and instead the hospital would take… Continue Reading Leigh, Memorial exchange barbs

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Memorial Health System kept its A- rating from Standard & Poor’s, but received a negative outlook. The hospital gave the news at yesterday’s city council meeting, and also asked its lender to give a prognosis of its financial standing. “Part of the downgrade is certainly because of the governance issue,” said Steve Self, president of… Continue Reading Memorial keeps credit rating, receives negative outlook

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UCH eyes challenges Memorial will pose

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It takes more than just doctors and patients to build a successful hospital system … Continue Reading UCH eyes challenges Memorial will pose

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UCH, PVHS finalize joint partnership

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Poudre Valley Health System and the University of Colorado Hospital have finalized a joint operating agreement that creates a new health system. Called University of Colorado Health, the partnership will also include Memorial Health System in Colorado Springs, once details of a lease agreement are ironed out and voters decide on the effort at some… Continue Reading UCH, PVHS finalize joint partnership

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Bach weighs in on Memorial negotiations

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Mayor Steve Bach sent the Colorado Springs City Council a letter this week, outlining his vision for the way the negotiations to lease Memorial Health System should proceed. Bach, first of all, wants to be more involved. He also wants to use outside legal counsel to help City Attorney Chris Melcher during the negotiations. The… Continue Reading Bach weighs in on Memorial negotiations

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Memorial’s future now up to negotiators

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The Colorado Springs City Council unanimously approved taking the next step in the future of Memorial Health System at its formal meeting this week. It also created a negotiating team – with Council liaisons Merv Bennett and Brandy Williams – to discuss the final terms of the lease agreement with the University of Colorado Hospital… Continue Reading Memorial’s future now up to negotiators

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