Memorial Health System: Possible Restructure or Sale

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City council members, Memorial Health Systems and the public met Wednesday to discuss the possible sale of Memorial Hospital.

Memorial's C.E.O., Dr. Larry McEvoy said, the hospital and the city want to evaluate the governance of the hospital.

The city and Memorial officials decided to enlist the help of a community committee to evaluate how Memorial Health System is run and bring any ideas to council for possible changes.

Colorado Springs City Councilman Scott Hente told 11 News the committee findings may not bring changes for the hospital or may change everything, including ownership.

The community committee will be chosen by the end of January and will have about six to nine months before it needs to report to city council.

A spokesperson for Memorial confirms the hospital lost nearly $32 million in 2008. However, in the summer of 2009, Memorial was $14 million in the black.

Rough estimates predict that Memorial is seeking between $250 million and $400 million in a sale.