Lafayette General Medical Center has announced a partnership with LSU to eventually take over University Medical Center.
|LGMC President and CEO David Callecod|
LGMC President and CEO David Callecod, during a press conference held inside the hospital’s lobby, said the deal will include three “milestone” payments of $2.6 million to LSU, which will allow UMC to avoid severe cuts to the public hospital’s staff and services. Original plans included cutting up to 173 jobs and reducing the public hospital’s 353 inpatient beds down to 10.
“Through these milestone payments, we’ll be able to stave off layoffs and allow UMC to continue offering the same level of services,” Callecod told the crowd of about 100, which included LGMC staff, the Acadiana legislative delegation and dozens of medical residents from UMC.
The three payments will be spread out in installments through June 30. On July 1, LGMC is set to enter a cooperative endeavor agreement with LSU to take over management of the UMC campus. The particulars of that deal are not finalized, but are expected to be worked out between now and the June 30 deadline, Callecod added.
"This begins the next chapter in the LGMC Health System," said Callecod.
Also on hand during the press conference were state Department of Health and Hospitals Secretary Bruce Greenstein and LSU Health Services Division Executive Vice President Dr. Frank Opelka, who earlier in the day made similar announcements of public-private partnerships involving LSU hospitals in New Orleans and Houma.
Callecod said the deal will allow LGMC to further fashion Lafayette as a "medical hub," which will be achieved by the eventual expansion of the graduate medical education programs offered at UMC.
According to an LGMC news release handed out during the press conference, UMC on July 1 will begin operating with 55 inpatient beds. The release also states that a "significant amount of the current workforce" will remain employed through the transition, and that "[a]ny displaced UMC workers will have opportunities in the Lafayette healthcare market as LGMC has over 150 job positions currently posted on its website."
Monday's announcement comes after Congress announced in July that it would be severely reducing Louisiana’s Medicaid financing, which Gov. Bobby Jindal’s administration responded to by pulling more than $300 million in state and federal funds from the LSU health system.
C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Cypress Bayou GM hosts open house.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Georgia-based fried chicken chain would go up against Raising Cane’s, Chick-fil-A and others (like the Popeyes near its proposed location).
A Scott businessman has pleaded guilty to failing to report a conspiracy to award Opelousas Housing Authority construction bids to his company.
Court-appointed examiner says Lafayette businessman was “effectively on both sides” of transactions, opens door for legal action against him.
Lafayette-based insurance broker/risk management group bought by Florida firm for undisclosed sum; principals Landry and Harris continue to run local operations.
The House labor committee rejected bills Thursday that would have set the state minimum wage higher than the hourly federal rate of $7.25 and would have allowed local governments to set their own minimum wage.
Of the major oil- and gas-producing states, Louisiana gained nine rigs, Texas increased by seven, California gained three and New Mexico increased by one.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,101 from the previous week's total of 1,985. There were 2,444 initial claims during the comparable week in 2013.