On Oct. 1, city-owned Memorial Hospital system marked five years of its lease with UCHealth. Memorial said in a release it's seen "record growth in patient care" while adding specialists and heavy investment in technology. More than $2.5 million in revenue sharing payments have been provided to the city, the news release said.
UCHealth paid the city $259 million in cash for the 40-year lease, $190 million of which went to settle a lawsuit with the Public Employees' Retirement Association for coverage of Memorial employees, who left the PERA program due to the lease. The city also receives annual payments of about $5 million.