The potential lease agreement between Bay Medical Center and Sacred Heart Hospital is becoming more concrete.
The Board of Trustees formally announced the plans at a community leaders Wednesday night, at least two commissioners were in attendance. The Bay County Commission will have the final say in whether or not to approve the lease. The hospital’s president explained the rapidly changing healthcare industry is one reason behind Bay Medical’s decision to sign a 40 year, $155 million dollar lease with LHP Hospital Group and Sacred Heart Group. They say the deal will keep the market share local.
The local network affiliation will allow Bay Medical employees to keep their same jobs and current salaries and preserve long term pension plans.