Monitoring Timeline Established by the Asset Purchase Agreement
The Asset Purchase Agreement (APA) establishes a timeline for monitoring, which is triggered by a series of actions that are to occur on an annual basis. The following dates are relative for 2024:
- April 30: HCA’s Annual Report is due to Dogwood Health Trust (Dogwood) and the IM (Affiliated Monitors, Inc.) by April 30, or 120 days after the end of HCA’s fiscal year (Dec. 31, 2023).
- July 29: Dogwood must provide notice to the Attorney General’s Office (AGO) 90 days after the receipt of the HCA’s Annual Report as to whether Dogwood intends to notify HCA of any potential noncompliance.
- Aug 28: 30 days after receipt of Dogwood’s letter, the AGO must provide notice to Dogwood if the AGO decides that Dogwood has failed to adequately exercise its right to enforce certain obligations of HCA.
- Oct 27: 180 days after receipt of HCA’s Annual Report, Dogwood or the AGO is required to provide notice to HCA of any potential noncompliance.
- Dec 26: During the 60 day period following delivery of notice to HCA, all parties can attempt to resolve any issues regarding noncompliance. If the parties are unable to come to resolution, Dogwood may seek resolution through the courts after 60 days. If conversations with HCA are productive, the parties can continue discussions to resolve the matter past December 26th.