MD & DO College of Henricopolis School of Medicine now non-profit

[LutGholein]

"The for-profit school was dissolved and the shares of stock owned by investors of the holding company were purchased by ICSM"
(source: Martinsville medical school changes plan)

Looks like the martinsville medical school struggled to obtain necessary funding for the initial for-profit school and now Integrative Centers for Science and Medicine, a nonprofit clinic in Martinsville will purchase it. Will this school come to fruition?

Interesting parts of the current situation is "Henricopolis partnered with the City of Martinsville to request an $800,000 grant from the Tobacco Commission. They received the money, but it had conditions attached."

If the commission tells the medical school to give back their money(the school doesn't have that money right now) apparently it would mean that the city would have to foot the bill of $800,000.

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[673441]

"The for-profit school was dissolved and the shares of stock owned by investors of the holding company were purchased by ICSM"
(source: Martinsville medical school changes plan)

Looks like the martinsville medical school struggled to obtain necessary funding for the initial for-profit school and now Integrative Centers for Science and Medicine, a nonprofit clinic in Martinsville will purchase it. Will this school come to fruition?

Interesting parts of the current situation is "Henricopolis partnered with the City of Martinsville to request an $800,000 grant from the Tobacco Commission. They received the money, but it had conditions attached."

If the commission tells the medical school to give back their money(the school doesn't have that money right now) apparently it would mean that the city would have to foot the bill of $800,000.

Seems shady...


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[Warderino92]

I can't imagine any situation where getting money from the tobacco industry would be good for PR.

 

[Cawolf]

I can't imagine any situation where getting money from the tobacco industry would be good for PR.

That is not the tobacco industry, but one of the state groups that receives and allocates settlement money from tobacco companies.

 

[LutGholein]

I just don't know if they can secure the necessary funds-- if it proved to be difficult under the guise of a for-profit model i'd imagine it would be more so an uphill battle as a non-profit. Currently there are 8 medical schools already in the state of Virginia-- I guess I just don't see it happening anytime soon.