AUNT JELENA, Fla. --- In an unprecedented move, Aunt Jelena Hospital, formerly one of more than 40 hospitals in Adventist Wealth Systems, has been sold to Sierra Vieja Brewing Company. Management of the hospital, which has seen its share of financial struggles over the last several years, will officially be transferred to Sierra Vieja Brewing Company on April 15, 2014.
"It's with sadness that we divest with Aunt Jelena Hospital," said Adventist Wealth Systems Senior Vice President for Divestment, Tim Obson. The hospital is a cornerstone of the community and has been offering above-average health care for years."
"Healthcare is a very competitive marketplace and we have been taking a beating with paper-thin margins for about a decade at this facility," added the system's Chief Financial Officer, Brian Markesonn. "There is no way that we can continue to pay our executives their guaranteed minimum of 'base Adventist pastor pay x 4' unless we take some big steps to re-balance our investments across the region."
Adventist Wealth Systems executives stress that the decision to sell Aunt Jelena Hospial was not easy. "We explored every other avenue but there is only so much we can overcharge patients before things get a little dicey," said system Legal Affairs Director, Brianna Harris.
The transfer of ownership to Sierra Vieja Brewers, while surprising to the community of Aunt Jelena, was first suggested by the hospital's charitable foundation. "Sierra Vieja Brewery has for decades been the biggest donor to our galas and golf tournaments. Our West Wing was constructed entirely as a result of a $100 million Sierra Vieja donation," explained Foundation President, Tim Brentson.
"It made perfect sense to explore new ground in our relationship as institutions," added hospital president and CEO, Mark Reese.
"We've had a long and successful relationship with Sierra Vieja, so it is with utmost confidence that we now transfer formal ownership of the hospital to the best brewery this county has ever seen," added Brentson, the only executive who will stay on for the transition.
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