MICHIGAN (WLUC) – The Copper Shores Community Health Foundation is the recipient of more than $20 million in charitable funds, the Department of Attorney General Dana Nessel (D-Michigan) said Thursday.
It comes after a 2013 joint venture between Portage Health, a nonprofit, and Lifepoint Holdings 2, a for-profit.
“The joint venture was required to expend $60 million in capital commitments within 10 years of closing the transaction or pay any shortfall to a local charitable healthcare foundation designated by the Department of Attorney General,” the department said. “In the final report of the independent monitor, the joint venture was determined to be $21,786,091 short of its capital commitment.”
The Department of the AG says it did a search of charitable foundations with health care purposes in the western U.P., looking at factors like size and proximity to the former Portage Health Hospital service area. The department says Copper Shores was the top candidate.
“With over a decade of experience serving the Houghton County and larger Copper Country area, the Copper Shores Community Health Foundation issues grants, and provides healthcare-related programming addressing adult and child trauma, as well as the impact of suicide, assists victims of sexual assault, and conducts trainings to combat human trafficking,” the Department of the AG said.
In a statement, Nessel says:
“When a charitable nonprofit transitions to for-profit ownership, my Department scrutinizes the agreement, tracks promised investments and, when necessary, steps in to ensure funds are delivered. There may have never been a greater need for rural health support than right now, as our state is facing massive cuts at the federal level. I am excited to award this money to Copper Shores and trust that they will continue their critical work advancing the health and well-being for the communities they serve.”
The Department of the AG says its charitable trust unit has monitored for-profit purchases of nonprofit hospitals since the 2010 purchase of the Detroit Medical Center by Vanguard.
You can find more information about the unit here.
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