A takeover of Tidelands Health by the Medical University of South Carolina received approval this week from the state Fiscal Accountability Authority.
Tidelands is on track to lose $50 million in the fiscal year that ends Sept. 30 and has cash reserves to cover another two years of losses, MUSC Health officials told state lawmakers last week.
“We think there are a variety of things we can do to help strengthen them financially and then turn them around fiscally,” Patrick Cawley, chief executive of the state-owned Medical University Health Authority, told legislators last week when the takeover received approval from the legislature’s Joint Bond Review Committee…