b'CONCO I H U AALN R R O RI|S SO D I-V19ER EGSRPOOWNTSHE 5CRODN CHOORSDP TAOLS PAINTNAL NEUPAOLRTEP | T M I CNO-VDI R NMission-Driven GrowthThe IntegrationIn 2021, with the closure of LRGHealthcare looming, Concord Hospital stepped up to make sure thousands of residents would continue to have access to health care in their own communities.President and CEO Robert P. Steigmeyer said the Hospital saw no other choice but to determine if it could fix the collapsing system, without harming its own operations or finances. Our mission is clear, Steigmeyer said. We meet the health needs of individuals in the communities weCONCORD HOSPITAL - LACONIAserve. So, do we stand by, let the system collapse and the community lose theirPriorities for integrating the operationsBoth sides embarked on a bankruptcy healthcare system and hope the piecesare based on the same goals thatplan focused on patient care, removing can be picked up by various people?guided the successful purchaseaLRGHealthcares obstacles, maintaining The answer was absolutely not.long-running relationship in which theits pension system and building After years of intense analysis andConcord Hospital health system andon common ground, elements not months of delicate bankruptcy negoti- LRGHealthcare place patients first.embraced by other organizations that ations, the Hospital purchased theLRGHealthcare had long wanted toinitially expressed interest. assets of LRGHealthcare in 2021.expand the partnership, but couldntBob talks about the community Then, the more difficult, multi-year taskbecause of obstacles that led to themission and protecting the pension and, began to build the medical services,bankruptcy: overwhelming debt; theultimately, thats the reason the other management, finance and facilitycost of provider contracts; and, the costpeople walked away, because all they operations spread over more than 400of its Information Technology system.cared about were the dollars and cents, departments into a new health systemWe were forced to go through aDonovan said. They wanted us to get for central New Hampshire.bankruptcy process to address thoserid of the pension. For the first time in a long time, peoplethree structural legal obligations so weThe Hospital said How can we in Laconia and Franklin have hope, saidcould do what we considered the rightmeet the patient need, while being Kevin Donovan, former President andthing, which was ultimately to end upsustainable, he said. The other CEO at LRGHealthcare and now Chiefwithin the Concord Hospital health(potential) bidder said How do we make Administrative Officer for Concordsystem, Donovan said.money and I guess well serve patients Hospital - Laconia and Concordalong the way. Hospital - Franklin.'