We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Both hospices will continue to operate under their current names and locations, the organizations said in a letter this week. The transaction will close by mid-summer, with a full integration occurring within the next year.
The hospices provide care to terminally ill patients as well as pre-hospice medical consultations for people seeking pain and symptom management in rural and urban communities in Northern Colorado and the Boulder Valley.
Shared operational expertise and economies of scale will help the organizations address challenges while preserving hospice care, according to the letter.
“We are excited by the strong future consolidation brings to our two organizations so we can better serve our communities,´ said Darla Schueth, chief executive of TRU Community Care, and David Hamm, chairman of TRU’s board of directors.
Founded as Boulder County Hospice in 1976, TRU will continue operating an administrative location in Lafayette at 2594 Trailridge Drive East and an inpatient hospice facility at 1855 Plaza Drive in Louisville.
Hospice of Northern Colorado, established as Weld County Hospice in 1978, will continue operating its administrative location at 2726 W. 11th St. Road and an inpatient hospice facility at 1801 16th St., fifth floor.
Volunteer board members of both organizations unanimously approved the merger, according to the letter. The two boards will combine, though the hospices will create community advisory boards to remain connected to people served by the organizations.
The consolidation will not affect the number of staff members at the hospices, said Cindi Werner, director of operations for Hospice of Northern Colorado. Werner will become executive director of Hospice of Northern Colorado, which employs 55 people, starting July 1.
Werner said the consolidation preserves not-for-profit hospice operations in the region.