Hospital caps deal to thrive with Triad.Byline: Tim Christie The Register-Guard SPRINGFIELD - McKenzie-Willamette Hospital, the independent, nonprofit community hospital founded here in 1955 so Springfield residents wouldn't be stuck when the Willamette River Willamette River River, northwestern Oregon, U.S. It flows north for 300 mi (485 km) into the Columbia River near Portland. Oregon's most populous cities are in its valley. The Fremont Bridge, a steel arch with a main span of 1,225 ft (373 m), crosses the river at Portland. flooded, is no more. In its place is McKenzie-Willamette Medical Center, one of 52 hospitals owned by Texas-based Triad Hospitals Triad Hospitals is a Fortune 500 company based in Plano, Texas. It operates 54 hospitals in the United States. In February 2007 it received a merger/buyout offer from another company, and then in March 2007 it received a superior merger/buyout offer from Community Health Systems of Inc., the nation's third-largest for-profit hospital For-profit hospitals, or alternatively investor-owned hospitals, are investor-owned chains of hospitals which have been established particularly in the United States during the late twentieth century. chain. Eight months after they announced plans to unite, leaders of the two hospital organizations closed the deal Wednesday and conducted their first board of governors meeting. Hospital leaders say they plan to maintain McKenzie-Willamette's culture of compassionate care and its community hospital atmosphere - even as they move ahead with plans to build an $80 million replacement hospital, most likely across the Willamette River in Eugene. The partnership ensures the survival of McKenzie-Willamette, which had been in dire financial straits, 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. hospital officials. The deal closes less than week before McKenzie-Willamette faces off against PeaceHealth, corporate parent of Sacred Heart Medical Center Sacred Heart Medical Center may refer to: In the United States:
Roy Orr, McKenzie-Willamette's chief executive officer, said he understood some people may be saddened that McKenzie-Willamette is no longer an independent community hospital. But he said he felt a combination of excitement and relief. He's relieved that McKenzie-Willamette was able to find a compatible partner that ensures the hospital will not just survive but thrive. And he's excited about the prospects of expanding services and technology at the current hospital and building a new hospital. "We lacked the resources to get out of the way of the shadow PeaceHealth cast when it decided to come to RiverBend," he said. "We were undercapitalized Undercapitalized A business has insufficient capital to carry out its normal functions. undercapitalized Of, relating to, or being a firm that has insufficient long-term equity to support its assets. . We were stuck." PeaceHealth is preparing to build its own replacement hospital, dubbed dub 1 tr.v. dubbed, dub·bing, dubs 1. To tap lightly on the shoulder by way of conferring knighthood. 2. To honor with a new title or description. 3. RiverBend, in north Springfield North Springfield is the name of the following cities in the United States of America:
The new McKenzie-Willamette Medical Center will have two immediate priorities: getting the hospital out of survival mode by expanding services and updating equipment, and picking a site for a replacement hospital. "We've been in neutral for a long time," Orr said. "We need to get back in gear." He said the hospital could decide on a new site within weeks, and almost certainly before the end of the year. "It's obviously a priority for us," board member Maureen Weathers said. Hospital leaders met Wednesday morning with Springfield city leaders to talk about potential sites in Glenwood, and in the afternoon with Eugene officials to talk about that city's efforts to find an appropriate location for a new hospital. Christopher Holden, a Triad division president in charge of hospitals in Oregon This List of hospitals in Oregon (U.S. state) is incomplete. city county hospital beds Albany Linn County Samaritan Albany General Hospital Ashland Jackson County Ashland Community Hospital Astoria Clatsop County Columbia Memorial Hospital and three other states, said he's never seen a market situation like the one that exists today in Springfield and Eugene, where the two hospitals are planning to build new hospitals and effectively switch communities. "The magnitude of the change here is so great it's unprecedented," he said. McKenzie-Willamette doctors are excited about the partnership with Triad, said Dr. Lawrence Vinis, the hospital's chief of staff. "It's going to allow us to compete on the open market so citizens of Lane County can have their choice of hospitals," he said. Giving doctors greater say in how hospitals are run is one of Triad Hospitals' fundamental operating principles, Triad executives have said. Each Triad hospital has a physician leadership group, which meets regularly to talk about patient care and hospital operations and recommend changes or new initiatives to hospital administrators. The agreement creates a joint venture, in the form of a limited liability corporation. McKenzie-Willamette contributed its hospital at 1460 G St. in Springfield and other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. , valued at $34 million. Triad contributed $85 million in cash and cash equivalents. In exchange for its contribution, McKenzie-Willamette will receive an immediate $12.75 million cash infusion and a 20 percent interest in the venture. NEW STRUCTURE McKenzie-Willamette and Triad Hospitals Inc. each appointed three of the six governors on the hospital corporation's board: McKenzie-Willamette appointed three veterans of its board: former Springfield Mayor Maureen Weathers; retired banker Ron Peery; and Dr. Terrence Carter, a retired orthopedic surgeon and former hospital chief of staff Triad appointed Michael Parsons Michael Parsons is a British musician, and co-founder of the Scratch Orchestra. , executive vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. ; Christopher Holden, a division president in charge of hospitals in West Virginia List of hospitals in West Virginia (U.S. state), sorted by hospital name.
McKenzie-Willamette members have exclusive right to fire the chief executive, to appoint the board chairman and to ensure compliance with the community benefit standard of a nonprofit hospital The board of governors will appoint a 12-member board of trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. , which will oversee routine operations of the hospital. Half the members will be doctors on the hospital medical staff; half will come from the community |
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