If the proposed transfer of the nonprofit Mission Health system to the for-profit Nashville megacorporation, HCA, is completed, Asheville and its surrounding communities will lose control of a vital and excellent health care resource.
The proposed money and power grab by nonprofit insiders, corporate outsiders, financial underwriters and city mothers/fathers (the crazed clique on the City Council) will undermine this fine institution and set the scene for large health care price increases. Such increases are inevitable when income streams from health care services are diverted to a supposed “community” foundation, to the city coffers to further the City Council’s flagrant and unproductive spending initiatives, to securities underwriters who will immediately “earn” large fees for underwriting the debt for this purchase and to the stockholders of the corporation who will expect and deserve a return on their investments. The net result will be less money available to continue the quality care that Mission Health offers.
If you want to see monies diverted to crony individuals, groups and political supporters of the city establishment/government (new property tax revenues), you will be happy with this new arrangement. I can hardly wait to see who makes up the new “board” of the Dogwood [Health Trust] foundation that would be cut in for a sizable portion of the purchase price funding and how the “board insiders” disburse “their” funds.
When an areawide-owned asset like the nonprofit Mission Health perishes, it will be gone forever. Instead of being utilized for the health of our citizens, then you will see these funds evaporate into the air and resulting health care costs will rise.
— Timothy Legare
Editor’s note: See “Mission Accomplished: Attorney General Approves ‘Rearticulated’ Mission-HCA Deal” in this issue for an update on the sale of the health system.