ABSTRACT
A long-standing medical college and hospital with a proud history of innovation, which nearly went bankrupt, was acquired and saved by a university and a national for-profit hospital chain company. The university acquiring the medical college lacked healthcare experience. The acquired hospital had been nonprofit in its century of existence, and the takeover by a for-profit chain was somewhat of a shock to its faculty and staff. The ultimate solution, however, was felt to be better than other alternatives discussed before the takeover—including turning the facility into condominiums.
