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Jan 10, 2012 5:27 PM by Paul Kavanaugh

Council approves University of Colorado Hospital bid to manage Memorial

The Colorado Springs City Council has voted unanimously to approve the bid submitted by University of Colorado Hospitals to manage health care at Memorial Hospital.

With approval, City Council will negotiate a lease, and then the issue will be put to the voters. Council woman Jan Martin had said earlier that negotiations on the lease by City Council could take three to six months. Also, the state Attorney General would look over the deal to make sure it complies with Colorado's hospital transfer rules. If everything goes without problems, the voters could be providing the final decision sometime late next year.

The University of Colorado Hospital's bid was unanimously approved by the task force over four other bids as the best plan for the future of Memorial Health System. Under the plan, University Hospital would make a $74 million up-front lease payment, then pay more than $5 million per year for 30 years. University Hospital would also commit more than $1 billion in capital improvements over the duration of the lease agreement. $3 million per year would also go toward establishing a school of medicine at the University of Colorado at Colorado Springs.

Yesterday, News 5's Zach Thaxton reported that University Hospital is currently in the process of forming a partnership with Poudre Valley Health System in Fort Collins, setting in motion the creation of a "Front Range trifecta" which would include Memorial Health System and Children's Hospital in Aurora.

 

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