Despite being nonprofits, the eight Colorado and Montana hospitals under SCL Health, the parent company for Grand Junction’s St. Mary’s Medical Center, are sitting on more than $1.5 billion in accumulated profits, so-called reserve money that they have amassed over several years, The Daily Sentinel reports.
Profits from St. Mary’s alone account for $459 million of that $1.5 billion.
With the pending merger between SCL and Utah-based Intermountain Healthcare, which could happen by week’s end, questions have been raised about what happens to that money afterwards, and what the health care landscape will look like on the Western Slope. Read more.
