Capital crisis. Caritas Christi, Detroit Medical Center turn to for-profit partners to dehver the cash they need to modernize and compete.
Two not-for-profit systems that badly needed access to capital found saviors in for-profit investors. Detroit Medical Center and Caritas Christi Health Care see the moves as the best way for them to survive in an increasingly competitive environment. "Having scale and capital access help with changes in payment and delivery reform, which we think will be addressed over the next several years," says Keith Pitts, left, of Vanguard, which is making the offer for DMC.
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D002202:Capital Financing / Q000379:methods*; D006749:Hospital Design and Construction / Q000191:economics*; D006777:Hospitals, Proprietary / Q000191:economics*; D006786:Hospitals, Urban / Q000191:economics*; D008824:Michigan; D019982:Organizational Case Studies