How likely is it that the Drexel trustees will delay the vote for another year?
The Drexel trustees have been very impressed with the job that MCPHU has done turning itself around, bringing itself to financial stability, and mapping a sound business plan for the future. The independent consultants that both Drexel and MCPHU hired last summer did an extensive job in analyzing the situation. Many if not most of the departments providing administrative support have already been consolidated. As a result, there is not much more information that the Drexel trustees could obtain by deferring their decision for another year; and everyone understands that another year of uncertainty would be very difficult for MCPHU to endure. It was for that reason that the Drexel trustees authorized the Administration to enter into final negotiations with Tenet and to bring back to the trustees the terms for that relationship going forward. Either those terms will be acceptable, or they won’t.
