Last night, the Blue Hill Memorial Hospital Foundation Board voted to relinquish its role as the parent of Blue Hill Memorial Hospital. In the future, the Foundation's primary purpose will be to support BHMH financially and to promote the hospital's excellent services to the surrounding communities.
Ownership and control of BHMH's endowment, investment, buildings and equipment will remain local. Our endowment has grown due to the generosity of many contributors and we will always honor their commitment and legacy to this hospital. Both parties in this discussion have agreed from the beginning that control of our endowment and investment decisions will remain here in Blue Hill, as well the funds raised through BHMH's development efforts. The Corporators will continue to fulfill their role in electing the Board of the Foundation.
In addition the Foundation will also remain the parent of Coastal Holdings, Inc., which manages the Parker Ridge Retirement Community.
We look forward with enthusiasm to working with Blue Hill Memorial Hospital in a different but yet important role as they develop their new relationship with EMHS. |
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