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Dec 7, 2011 8:07 PM by Andy Koen

Memorial bidders pitch proposals to public

Each of the five parties vying for for control of Memorial Health System, including Memorial itself, gave their pitch to the public at a special e-town hall meeting held at City Hall Wednesday.

Memorial is offering $5 million in cash plus a profit sharing agreement rather than a lease. It would run as an independent non-profit.

The University of Colorado Health System offered $79 million in cash, plus $224 million in lease payments over 40 years, $1.12 billion in capital investments and a potential medical school at the University of Colorado at Colorado Springs.

HCA-HealthONE offered $500 million in cash for the 40 year leas plus $1.2 billion in capital spending.

The Sisters of Charity of Leavenworth offer $400 million plus $100 million in capital spending in the first 5 years.

Centura Health, which runs the Penrose Saint Francis Health System didn't offer to lease the hospital but proposes a partnership with Memorial as a new, independent non-profit.

"Memorial is a gem and that's why we've had so many interested parties and we as citizens in this community value Memorial and the services it provides," said council president pro-tem Jan Martin.

She is part of a task force that will start a series of meetings on Friday to make a final recommendation to council on December 27th.

City council is then expected to vote on the plan sometime in January and then present the final option to voters. Click here to view each proposal in detal.

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