CHARLESTON, W.Va. — The new State Department of Health Facilities announced a plan late Friday afternoon that could result in four state-run hospitals being sold to the private sector.
The DHF said it’s a comprehensive initiative “aimed at bolstering the quality of care for seniors across West Virginia through a strategic capital investment plan for the state’s four long-term care facilities.”
The initiative includes the hiring of an outside firm to develop a long-term strategy for Jackie Withrow Hospital in Beckley, John Manchin Sr. Health Care Center in Fairmont, Hopemont Hospital in Terra Alta and Lakin Hospital in West Columbia.
The state has hired Lument Securities, LLC, which it describes as “a leading advisor in healthcare mergers and acquisitions.”
Lument will help the state look for buyers.
“Ensuring the quality and continuity of our long-term care facilities is a top priority for West Virginia. By partnering with a world-renowned firm, known for their expertise in healthcare matters, we are poised to preserve and elevate the standard of care for our population served by the long-term care facilities,” said DHF Secretary Michael J. Caruso said.
According to the Friday evening news release from DHF, “ Lument will initiate an extensive marketing campaign to engage qualified investor groups with proven operational expertise. This process will culminate in negotiating a sale agreement that aligns with the state’s vision for long-term care sustainability. Oversight of the transaction will be managed by the Department of Administration to safeguard and preserve the interests of residents, stakeholders, staff, and the community at large.”