Day Kimball Healthcare’s (DKH) Board of Directors today announced that discussions with a potential strategic partner, Prospect Medical Holdings (PMH), have come to a close without an agreement.
“Both Day Kimball Healthcare and Prospect Medical Holdings worked diligently over the last several months to reach an agreement that would meet each party’s critical requirements for a potential partnership,” said Janice Thurlow, interim chair, board of directors, Day Kimball Healthcare. “Unfortunately, we were not able to reach an agreement in which both sides could meet their respective needs. It’s not unusual for these types of negotiations to conclude without an agreement.”
“We are immediately resuming discussions with other potential future partners, many of whom have indicated continued interest in exploring a partnership with Day Kimball Healthcare,” added Paul Beaudoin, chief financial officer and interim chief executive officer, Day Kimball Healthcare.
“The board, hospital leadership and staff all remain focused on achieving clinical, operational, organizational and financial goals. Additionally, many new initiatives are currently underway, which will improve and expand clinical services for our community, strengthen our position in the market and improve our financial health and stability,” said Joseph Adiletta, interim president, Day Kimball Healthcare.
Day Kimball Healthcare announced a letter of intent for a strategic partnership with Prospect Medical Holdings earlier this year in August of 2019.