JACKSON, Miss. (AP) – The University of Mississippi Medical Center would lease Grenada-Lake Medical Center for at least 20 years, paying for the lease by taking on the hospital’s $35 million in long-term debt.
The College Board’s Finance Committee discussed the plan in a closed session Wednesday and the board is expected to vote Thursday.
The Grenada County Board of Supervisors, which owns the hospital, voted late last year to enter into talks with UMMC after seeking proposals.
Under the agreement being considered, UMMC would start managing the hospital Sept. 1 and would begin the lease in 2014. The lease could extend up to 50 years, if both sides agree.
Vice Chancellor for Health Affairs Dr. James Keeton says UMMC will expand services and train more physicians at the hospital.