ProMedica Coldwater Regional Hospital to be Sold

COLDWATER, Mich., May 10, 2023 – ProMedica Coldwater Regional Hospital today announced it has entered into an asset purchase agreement with American Healthcare Systems, which intends to acquire the hospital.

American Healthcare Systems is a for-profit organization with health care management expertise. The organization prides itself on transforming hospitals by emphasizing accessibility to outstanding quality of care for all its patients and community members.

Financial challenges that have worsened since the start of the COVID-19 pandemic are at the root of ProMedica’s decision to sell the hospital. 

“The pandemic and its fallout, including staffing shortages and rapidly rising expenses, have further strained finances at hospitals across the country — and Coldwater Regional Hospital has been no exception,” said Alan Sattler, president, ProMedica Coldwater Regional Hospital. “With the financial strain ProMedica has been experiencing, especially since the pandemic, it has become necessary for us to revisit our options for Coldwater Regional Hospital.”

American Healthcare Systems has a plan to help ensure the sustainability of Coldwater Regional Hospital, and it is expected to focus on maintaining or expanding hospital services. Details about the organization’s plan will be forthcoming pending the sales transaction approval and completion. 

"Considering the current health care landscape where 30% of rural hospitals are at risk of closing in the near future, this sales transaction is good news for Coldwater,” said Sattler. “We believe that transitioning the hospital to American Healthcare Systems is the best option to help ensure that the Coldwater community continues to have acute care close to home."

The transaction is subject to regulatory approvals and expected to be completed in four to six months. During the transaction phase, ProMedica will continue to fully support the hospital, as it continues to deliver clinical excellence and compassionate care in the Coldwater community. Transaction updates will be provided as appropriate throughout the process.

ProMedica Coldwater Regional Hospital is a member of ProMedica, a mission-based, not-for-profit health and well-being organization headquartered in Toledo, Ohio. The organization offers acute and ambulatory care, an insurance company with a dental plan, and post-acute and academic business lines. The organization has 12 hospitals, 2,500+ physicians and advanced practice providers with privileges, 1,000+ health care providers employed by ProMedica Physicians, a health plan, and assisted living facilities, skilled nursing centers, memory care communities, outpatient rehabilitation clinics, and hospice, home health and palliative care agencies. Driven by its Mission to improve health and well-being, ProMedica has been nationally recognized for its advocacy programs and efforts to address social determinants of health. For more information about ProMedica, please visit promedica.org/aboutus.

American Healthcare Systems is a nationwide healthcare system based in Los Angeles, California. The organization believes in transforming hospitals by emphasizing quality, accessible and companionate care for all its patients and community members. American Healthcare Systems looks to improves each community it participates in by implementing new technologies, specialties and care specific to the needs of each community it serves. The organization is a community-based hospital system committed to providing quality care to its patients. It provides  compassionate care with respect and dignity to its patients and their families. For more information about American Healthcare Systems, visit amhealthsystems.com.