UMMC to enter lease agreement for Grenada Lake Medical CenterPublished on Thursday, August 15, 2013Media Contact: Jack Mazurak at 601-984-1970 or email@example.com. Published in Press Releases on August 15, 2013 (PDF)JACKSON, Miss. – With approval today from the State Institutions of Higher Learning Board of Trustees, University of Mississippi Medical Center leaders will sign an agreement to lease the 156-bed Grenada Lake Medical Center from the Grenada County Board of Supervisors. Under the agreement, UMMC would begin managing GLMC Sept. 1, and lease the facility beginning Jan. 1. Under the terms, UMMC would pay the county about $1.8 million annually to retire the facility’s $37.4 million debt. Dr. James E. Keeton, UMMC vice chancellor for Health Affairs and dean of the School of Medicine, said the lease deal helps ensure Grenada County and surrounding residents can receive high-quality hospital care locally. “We’re glad to embrace this opportunity to make a difference for the people in Grenada and surrounding areas,” Keeton said. “Collaboration will be key to success in health care in the future. We’re honored the Board of Supervisors selected us to partner with Grenada Lake Medical Center and the strong care providers in the community.”What makes this partnership even better, he said, is that UMMC can rotate some of its students and residents through GLMC.“Education is a big part of what we do. We need more teaching venues so we can continue training more health professionals for Mississippi. Grenada brings that important element to the table.”The new relationship also provides opportunities to expand telemedicine services, which bring sub-specialty-level care from Jackson to community hospitals via secure video connections. During the four-month lease agreement, an executive steering committee will transition the facility and its operations to UMMC practice models and the GLMC’s work force to UMMC employment. The timing could change depending on facilities issues and governmental approvals. As well, UMMC and GLMC administrators will work toward obtaining the necessary licenses and certifications for various operations. GLMC currently has about 400 full-time and 50 part-time employees.A 20-year lease would start Jan. 1 and includes three optional 10-year renewals for a total of 50 years. UMMC has proposed leasing GLMC for $37.4 million, the amount of the facility’s debt. UMMC would use patient-care revenue to pay Grenada County about $1.8 million annually.