March 26, 1998
IRS Rules on Hospital Partnerships
Ruling threatens joint ventures by charities and companies
When Columbia/HCA Healthcare Corporation and the Sisters of Charity of St. Augustine Health System, an Ohio chain of Catholic hospitals, decided to join forces in 1996, both sides touted the arrangement as a model for charities that needed quick cash to survive amid intensified competition.
Today, more than 60 similar arrangements are in place, involving hundreds of millions of dollars. But
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