Franklin, Tenn.-based Williamson Health is considering a potential sale amid mounting financial and operational pressures challenging independent hospitals and health systems nationwide.
The system’s board of trustees is engaged in a strategic planning process to determine the best path forward, which includes evaluating the feasibility of remaining independent versus seeking a buyer. Although Williamson Health is currently “fiscally sound,” projections indicate a need for significant capital over the next five years to support community growth and infrastructure needs, according to a July 14 presentation to the Williamson County Board of Commissioners.
“No decision has been made. This is the beginning of a thoughtful, deliberate process,” Williamson Health CEO Phil Mazzuca said in a July 14 news release. “There are multiple variables that could allow us to remain independent… Our focus is not just on surviving the challenge ahead, but on building a stronger, more resilient future.”
The board has created a subcommittee to explore all options, including launching a formal request for proposal process.
The strategic review comes as independent hospitals and health systems such as Williamson Health contend with rising staffing costs, low reimbursement rates and changing care delivery models. While the board favors maintaining independence, Chair Bo Butler said it has a fiduciary responsibility to consider all options to ensure long-term sustainability.
“One of the most rewarding aspects of this process would be gaining the ability to bring entirely new healthcare initiatives to the community that were previously beyond our financial reach,” Mr. Mazzuca said. “If new ownership is determined to be the best path forward, the anticipated proceeds will empower a newly formed independent foundation to invest in programs and services that could transform the health and well-being of our community in ways we never thought possible.”
A final decision is not expected until late fall at the earliest, and the review process could take up to three years.
