Doctors invest in medical center.Byline: Tim Christie The Register-Guard The physicians of Oregon Medical Group paid $11.1 million for a roughly 10 percent equity stake in McKenzie-Willamette Medical Center, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. newly released financial disclosure documents. OMG (1) See Object Management Group. (2) "Oh my God!" See digispeak. OMG - Object Management Group , a medical practice based in Eugene with 103 physicians, and McKenzie-Willamette announced last December that they had reached a partnership agreement, but no financial terms were disclosed. But an unaudited financial statement for 2006 that McKenzie-Willamette officials filed last month with the state Office for Health Policy and Research sheds some light on the deal. Under a section titled "Member Equity," one of three equity partners is listed as "physicians," with a stake of $11.1 million. McKenzie-Willamette spokesman Jim Bishop James Alonzo "Jim" Bishop (November 21 1907—July 26 1987) was an American journalist. Born in Jersey City, New Jersey, he dropped out of school after eighth grade. confirmed that the line item refers to the stake that OMG physicians hold in the hospital through a separate corporation called Oregon Healthcare Resources Inc. Oregon Healthcare Resources and Oregon Medical Group share the same address in Eugene and the same president, Dr. Mark Litchman, according to corporation records in the Oregon Secretary of State's Office. Peter Davidson Peter Davidson can refer to:
The other equity partners in McKenzie-Willamette are Triad of Oregon LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control at $82 million and Cascade Health Solutions Cascade Health Solutions is a health service provider in Eugene, OR. Cascade Health Solutions' services include occupational health, employee assistance, health education and risk management, home health, and hospice. at $23.3 million. Triad's stake has since transferred to Community Health Systems Inc. in Tennessee. Community Health Systems is the nation's largest for-profit hospital company; it swallowed Triad earlier this year. Cascade Health Solutions is the nonprofit corporation nonprofit corporation n. an organization incorporated under state laws and approved by both the state's Secretary of State and its taxing authority as operating for educational, charitable, social, religious, civic or humanitarian purposes. that McKenzie-Willamette spun off when it merged with Triad in 2003. Cascade Health Solutions provides a variety of community health services health services Managed care The benefits covered under a health contract , including hospice, occupational medicine and home health. Oregon Medical Group decided to partner with McKenzie-Willamette to help ensure the community had two strong competing hospitals, Litchman said in December when the deal closed. OMG doctors also planned to be involved in helping McKenzie-Willamette develop its new hospital, he said. The hospital, meanwhile, gets to affiliate with a large group of doctors, just as rival PeaceHealth has PeaceHealth Medical Group. The Oregon Medical Group physicians who invested in the hospital could share in any profits if the hospital earns a profit, Bishop said. Last year, McKenzie-Willamette earned pre-tax income of $4.4 million, according to an unaudited financial statement filed with the state. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion