(Dickinson County, MI / Green Bay, WI) Dickinson County Healthcare System (DCHS) and Bellin Health announced that they have come to an agreement on short-term financing to assist DCHS with its current cash needs. Reinforcing their commitment to preserve the presence of healthcare in Dickinson County, and the future of DCHS, Bellin Health signed a credit agreement to provide DCHS with the funding needed to assist with short-term cash requirements. At Friday’s Dickinson County Board of Commissioners special session, George Kerwin, CEO of Bellin Health, and John Schon, CEO of DCHS, signed paperwork authorizing Bellin to create an emergency line of credit of up to $8-million. This will allow Bellin to subsidize DCHS, as it needs funds, leading up to the close of the transaction. In addition, Kerwin and Schon signed two other documents:
- A lease arrangement for the DCHS and Bellin Cardiology services to join forces as a Cardiology Center of Excellence. More details about this initiative will be forthcoming.
- The final agreement signed was to appoint Bellin representative Amy Dettman as the Chief Restructuring Officer to oversee and facilitate the transition of DCHS to Bellin Health.
The Dickinson County Board of Commissioners has a public hearing scheduled for Monday, March 26, 2018 beginning at 7:00pm CST. The hearing will culminate with the County Commissioners voting on the acceptance of the DCHS / Bellin Asset Purchase Agreement. It is anticipated that the closing date for the acquisition will take place in late June or early July.
About Dickinson County Health System: Servicing Northern Wisconsin and the Central Upper Peninsula for more than 65 years, Dickinson County Healthcare System (DCHS) is a Community Hospital with a team of more than 90 active physicians and each year serves over 200,000 patients. DCHS employs more than 850 staff members, is the major employer in the Dickinson County area, and is a large contributor to the economic wellbeing of our community. Most recently recognized by Healthgrades Analytics as being in the top 5% of the Safest Hospitals in the nation, DCHS has also been acknowledged by several other independent healthcare analytics agencies for exceptional patient safety and services. The recent awards are a testament to how well the hospital and its physicians care for its patients and confirm the progress towards keeping the community safe and healthy.
About Bellin Health: Bellin Health, www.bellin.org, is an integrated healthcare delivery system based in Green Bay, Wis. It has served people in Northeast Wisconsin and Michigan’s Upper Peninsula since 1908. Bellin Health has more than 4,000 employees and is known for its emphasis on preventive healthcare and is the region’s leader in cardiac, orthopedics, sports medicine, digestive health, mental health, and primary care medicine. It is comprised of Bellin Hospital, Bellin Psychiatric Center, 31 Bellin Health primary care physician clinics, and several retail health clinics known as Bellin Health FastCare. Bellin operates Bellin Health Oconto Hospital, a critical care access hospital in Oconto, Wis., Bellin Fitness, and Bellin College. The health system also belongs to Bellin Health Partners, a clinically integrated network that includes Bellin Health, its employed providers and independent affiliated providers; Holy Family Memorial in Manitowoc, Wis., and its employed providers; and Dickinson County Healthcare System in Iron Mountain, Mich., and its employed providers.