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News Story
Updated: 04/03/2014 08:00:02AM

DMH moves toward sale

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By Steve Bauer

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The DeSoto Memorial Hospital board of directors voted 5-0 last Thursday to pursue the sale of the hospital to a private entity. The move allows hospital administration to begin the process of seeking potential bid proposals under Florida Statute 115.40, which dictates necessary steps a public hospital must take when considering its sale.

During his report to the board, CEO Vince Sica outlined the hospital’s current financial situation, noting its net revenue for 2014 so far was down $1.5 million compared with the previous year and accounts receivable was at $3.3 million. He added the deficit had only affected DMH’s bottom line by $150,000 because of extraordinary efforts by the hospital’s staff to reduce costs by efforts such as furlough days, reduced spending and other money-saving efforts. “I commend the entire hospital staff for the sacrifices they’ve made; a majority of the savings we’ve had is attributed to them,” he said.

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