Boone Hospital looks to investment bank to weigh partnership options

Boone Hospital Center trustees will contract an investment bank focused on health care to help negotiate future partnerships and assess the value of the Columbia hospital.

The trustees picked Hammond Hanlon Camp, also known as H2C, because it is a smaller firm that specializes in assisting non-profit health care organizations like Boone Hospital, the trustees say. H2C will be paid $125,000.

BJC HealthCare, which currently manages the hospital, has informed Boone Hospital that it should seek other arrangements when the current lease expires in 2020.

Subsequently, Boone Hospital’s trustees failed to reach an agreement with University of Missouri Health Care on a partnership between the two Columbia hospitals.

Boone trustees are considering proposals from Duke LifePoint Healthcare and Saint Luke’s Health System, as well as the possibility of staying with BJC.

Trustees Chairman Brian Neuner said Boone Hospital’s situation with MU was unusual since the two hospital systems are in the same health care market and the proximity could have created a monopoly.

In order to proceed with a partnership, Boone Hospital and MU would need to file antitrust legislation. However, Boone Hospital and MU could not get to an agreement on the legislation, Neuner said.

Read more: Columbia Missourian

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