(COLDWATER) – ProMedica Health Systems announced Tuesday they have taken steps to sell Coldwater Regional Hospital.

According to The Toledo Blade, ProMedica spokesperson Tausha Moore said in a statement that was released Tuesday that ProMedica recently engaged a third party business broker that specializes in hospital transactions to explore other regional health care provider's interest in possibly acquiring the Coldwater Regional Hospital.

Moore goes on to say that since ProMedica started operating the Coldwater Hospital in 2013, they have made investments into the facility.

ProMedica officially bought the former Community Health Center from Branch County on January 1, 2018 for $17 million. That money was then put into the MERS retirement system to cover the pension liability for over 600 former and current employees.

Moore says that several potential buyers have expressed interest in the facility. The reason ProMedica is looking at selling the Coldwater location is they say it may benefit from being aligned with a health system closer to it.

Moore says as they look at the possible options to see which one, if any, would best meet the needs of the Coldwater facility and the community, ProMedica will continue to fully support the hospital, as it continues to deliver clinical excellence and compassionate care in the Coldwater area.

The 87 bed acute care hospital has been profitable for ProMedica. Moore says in 2019, Coldwater showed a profit of over $1 million.

The hospital has shifted many of the services formally done in Coldwater to places out of the community. That included IT, medical records, billing and lab services.

WBET has reached out to ProMedica officials but have not yet been contacted by them.