The restructuring phase of the reorganization of Baptist Health System (BHS) based in Birmingham has been completed with the sale of its last two businesses not directly tied to its hospitals.
In a June 30 statement sent to all BHS employees and physicians, BHS officials announced the completion of transactions to sell Baptist Home Care Services and New Beacon, a hospice ministry.
The sales mark the end of BHS’ divesture of hospitals and noncore assets.
This was part of the 2004 strategic plan that developed from the attempt in 2003 to try to save the system from its financial woes. BHS now owns four hospitals and has part ownership in a fifth.
“We will now continue our work of investing in capital projects at each of our hospitals — presently totaling more than $115 million — and continue our strong focus on our quality initiatives and operational best practices,” the statement said.
Baptist Home Care Services, a Medicare-certified home-health agency based at Princeton Baptist Medical Center in Birmingham, was sold June 30 to Caretenders, the home-health division of Almost Family.
Based in Louisville, Ky., Almost Family owns one other facility in Alabama and 56 other home-health branches in six states.
BHS also sold New Beacon, a hospice jointly owned by BHS and St. Vincent’s Hospital in Birmingham, June 30 to Regency Health Care Group.
The group will have a majority interest in New Beacon, while BHS and St. Vincent’s will maintain a minority interest with one seat on the seven-member board.
New Beacon was the first hospice program in Birmingham and began at Montclair Baptist Medical Center (now Trinity Medical Center) in 1979.
It serves around 3,000 terminally ill patients annually in north-central Alabama through eight locations. (TAB)
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