North Carolina Attorney General Josh Stein has approved Gibbins Advisors as the independent monitor of HCA Healthcare. The healthcare consulting firm based in White Plains, New York will be responsible for watching over HCA as outlined in the asset purchase agreement with Stein.
“That commitment to engaging with local communities, along with the monitor’s qualifications, led me to direct my office to consent to the selection of this monitor,” says Stein in a press release.
The Attorney General’s office has been under pressure for an update on the independent monitor. In July, Stein said that the decision was just a few weeks away.
“Reviewing the choice for independent monitor was one I took seriously. My office thoroughly reviewed the selection and discussed it with the new CEO of Dogwood Health Trust before consenting to this choice,” says Stein in a press release.
HCA bought Mission Health in February for $1.5 billion dollars. Since then Dogwood Health Trust (the foundation created from the sale) and the board of directors of ANC Healthcare ( formerly Mission Health) have been tasked with finding a company to act as the independent monitor.
“We are pleased that Gibbins Advisors has been selected,” said Janice Brumit, chair of the Dogwood Health Trust board of directors. “Gibbins is a highly qualified firm that we believe will take a proactive approach to evaluating community needs.”
Stein says his office also discussed the choice with Dogwood’s New CEO Antony Chaing, who officially starts work at the trust tomorrow. The independent monitor will eventually become part of Dogwood.
Dogwood says that Gibbins Advisors will begin oversight immediately. This means the firm will review HCA’s annual reports, inspect hospital facilities and evaluate the healthcare systems compliance with the asset purchase agreement.
The firm will also advise Dogwood Health Trust and five regional advisory boards. Dogwood says that this could include regional listening sessions and community meetings.
Stein says that meetings like this should be a key part of the monitor's role in the region:
“To be successful, the monitor must take the time to engage with communities in Western North Carolina. Specifically, I am looking forward to hearing about town hall meetings and other opportunities for the monitor to hear directly from the people who are impacted by HCA’s health care decisions.”
There isn't a timeline for when Gibbins Advisors will visit North Carolina.
