A third party, Universal Heath Systems (UHS), has written to VHS expressing a desire to purchase its assets. UHS is a national healthcare company whose share are traded on the NYSE.
Rather than try to maximize the return to the district’s owners, the board has granted the local physicians 90 days to negotiate privately and exclusively with a special board subcommittee.
Unless the public can compare the different offers, how can it be sure or how can claims of giving away its assets in a sweetheart deal ever be resolved? It appears that the documentation and meetings are going to be shrouded despite assertions of the need for transparency.
The UHS offer is below and you click on the image to get a bigger and better view: [see JP ‘s blog for more on the VHS reaction to the public records request].