The University of Toledo Board of Trustees is “considering all options” for the college’s medical center — including selling it — as the hospital is reporting more than $12 million in operating losses through two quarters of fiscal year 2020. The board did not vote on any issues Monday at its meeting, but said it will undergo a process of planning out a short-term fix for the medical center’s finances before deciding long term what will happen to the former Medical College of Ohio hospital. “I think though what we can see from this is that unfortunately the hospital is in an unsustainable financial position at least in its current model,” board chairman Mary Ellen Pisanelli said at the board’s finance and audit committee meeting, which ran a couple of hours longer than expected while the board met for a lengthy executive session. “We’re determined to work with a grave sense of urgency to address the hospital’s current financial situation.”
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Source: https://www.toledoblade.com/news/medical/2020/02/10/university-of-toledo-board-citing-operating-losses-says-it-is-considering-sale-of-utmc/stories/20200210134