January 28, 2019
The Frisbie Memorial Hospital Board of Trustees announced today that it has entered into a Letter of Intent (LOI) to explore the possibility of joining HCA Healthcare, Inc., a Nashville, Tennessee-based company founded 50 years ago by two physicians and a business leader. The Board’s decision to explore a potential agreement with HCA Healthcare reflects Frisbie Memorial Hospital’s commitment to preserving and enhancing high-quality, affordable healthcare amid the increasing trend of industry collaboration.
Under the terms of the LOI, the two organizations will begin a period of exclusive negotiations with the goal of affiliating with HCA Healthcare by the Fall of 2019. A component of the proposed agreement includes HCA Healthcare’s investment in patient services and facility upgrades.
The proposed agreement would also establish a foundation that would operate independently of the hospital. While the final details need to be worked out, the foundation assets will be focused on the people who live in greater Rochester community.
“We are extremely excited about the possibility of joining the HCA Healthcare family,” said Frisbie Memorial Hospital Board of Trustees Chair Brian Hughes. “This collaboration would allow us to continue to build upon the outstanding quality of care that Frisbie Memorial Hospital is recognized for here in Rochester and throughout the region.”
“HCA Healthcare offers advantages on a scale that would be difficult, if not impossible, to achieve otherwise,” Hughes continued. “HCA Healthcare recognizes the value of the services we provide our patients, and we look forward to working with HCA Healthcare to further that mission.”
“Community hospitals like ours must continue to innovate in order to meet the needs of the patients and families we serve,” said Dr. Jocelyn Caple, president and CEO of Frisbie Memorial Hospital. “Joining HCA Healthcare would give us the opportunity to grow in ways that benefit all involved, including our physicians, staff, the local community, and, most importantly, the patients who rely on us for care.”
“Frisbie Memorial Hospital has a proud tradition of serving the Rochester community for more than 100 years, and we are excited to begin exploring how we can work together to continue their legacy of caring for Strafford County residents,” said Tim McManus, president of HCA Capital Division. “We look forward to working more closely with local physicians, caregivers and leaders to learn how we can support their efforts to provide sustainable, high-quality healthcare services.”
HCA Healthcare is one of the nation’s most respected healthcare providers, operating 179 hospitals and 123 surgery centers in 20 states and in the United Kingdom. HCA Healthcare’s hospitals in New Hampshire are Portsmouth Regional Hospital and Parkland Medical Center.