The Medical University of South Carolina (MUSC) is pursuing majority control of Tidelands Health, citing financial difficulties faced by the health system. Tidelands is currently grappling with a $50 million deficit, prompting discussions about a potential acquisition by MUSC. Patrick Cawley, CEO of MUSC, expressed confidence in the ability to turn around Tidelands’ financial situation. “We are confident…that’s not the biggest deficit in terms of hospitals we’ve turned around but it’s also not the smallest it would fall right in between number one to three if this were to happen,” said Cawley. Currently, MUSC holds a 30% governance interest in Tidelands and seeks to increase it to 51 percent.
Read the full article: MUSC Pursues Majority Control of Tidelands Health amid a $50M Deficit //
Source: https://wpde.com/news/local/musc-tidelands-finance-debt-control-money-records-takeover-defecit