George Epstein: Memorial Hospital’s Future

The two most important institutions in our Valley are our schools and our hospital.  We are in the midst of making a once-in-100-year decision regarding the hospital, beginning with a hearing on Monday, Nov. 19 at 5:30 p.m. at The Red Jacket.  Over the past 30 years, I have served twice as a hospital board member (including serving as chair in the 80s). I recently resigned from my most recent stint as a result of the board’s decision to move forward to become essentially a wholly-owned subsidiary of MaineHealth (the Maine Medical Center holding company). This was done with no serious effort to consider alternatives, or even a determination of whether there is any need to cede control of the hospital at this time. Despite my participation in or monitoring of more than 100 mergers and acquisitions, I have never seen a process move forward with so little information, board involvement, or consideration of alternatives. Should we hand over a crucial institution and $50 million asset without a modicum of due diligence?