In 1970, the Boards of Memorial Hospital (originally Homeopathic Hospital) and Pottstown Hospital agreed to merge and construct a new facility, known as Pottstown Memorial Medical Center. Within a year, groundbreaking was held for the seven-story, 300-bed facility that still stands at Armand Hammer Boulevard. This not-for-profit institution served residents in Montgomery, Chester and Berks counties for medical, surgical, OB/GYN, pediatrics, coronary care and intensive care, oncology, and inpatient and outpatient services.
Three decades later, in 2002, the Board of Directors and management of Pottstown Memorial Medical Center (PMMC) examined the hospital’s ability to fund the capital investments required to continue providing the high level of care that the community had come to expect. Due to the reductions in reimbursements and the competition, they decided that a change of business strategy was necessary. The PMMC board and management evaluated other similar regions’ solutions and recognized the benefits that would emerge by being acquired by a fiscally stronger healthcare entity. The PMMC board had the foresight to sell while the hospital was still producing a healthy cash flow, and many options were investigated. It was determined that the opportunity provided by Community Health Systems would most benefit the Pottstown area, and this resulted in a relatively high sale transaction of $80 million.
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