Good Shepherd Release:
Good Shepherd Health System announced today that the memorandum of understanding to be acquired by Duke LifePoint Healthcare expired on September 30, 2016. At this time, Duke LifePoint has decided not to pursue the acquisition of Good Shepherd.
“Both organizations worked hard to make the transaction possible for the benefit of patients, physicians, staff and the community,” said Bill Huffman, chair of the Board of Directors for Good Shepherd Health System. “While we are disappointed in the outcome of this process, we respect Duke LifePoint’s right to make business decisions that achieve their organization’s goals.”
The Good Shepherd Board of Directors immediately began working with their financial advisors and resumed the search for an appropriate suitor.
“We remain committed to finding the right partner to strengthen Good Shepherd for the future,” said Good Shepherd President and CEO Steve Altmiller. “The business environment for health care is rapidly changing. Good Shepherd will continue to evolve and make decisions to continue delivering sustainable services in an increasingly demanding environment.”
The search to find an affiliation partner is the result of a strategic planning process initiated by the Good Shepherd Health System’s Board of Directors and leadership team in August 2015.
Altmiller continued, “We will make decisions based on what is best for our patients and to continue our proud legacy of providing compassionate, high-quality care to people throughout East Texas.”
East Texas residents select Good Shepherd Health System for their health care needs more than any other system in the region. As Gregg County’s largest employer, Good Shepherd Health
System, a not-for-profit organization, has a significant economic impact on East Texas with more than 3,000 employees.