A Gilford, N.H.-based orthopedic practice will close after a local hospital decided not to renew its service agreement, according to a report in The Laconia Daily Sun.
Five details:
1. Advanced Orthopaedic Specialists' four physician partners will disband at the end of March.
2. The practice had a service agreement with Laconia, N.H.-based Lakes Region General Hospital, dating to 2004. In December, Concord (N.H.) Hospital acquired Lakes Regional, and decided not to renew it.
3. In a statement to the newspaper, Lakes Regional said the existing service agreement was not financially viable. "As Concord Hospital acquires our assets through bankruptcy, they need to assume contracts that are supportable in the long term and reject those which are not," according to the statement.
4. The physicians of Advanced Orthopaedic Specialists said they attempted to reach an agreement with Concord (N.H.) Orthopaedics as well, but failed.
5. Two of the four Advanced Orthopaedic Specialists physicians are independently pursuing new options to continue their practice while the other two are in talks with Wolfeboro, N.H.-based Huggins Hospital, according to the report.