YRMC: No deal with LifePoint Health
Hospital to move forward as non-profit organization
YUMA, Ariz. (KYMA, KECY) - The Yuma Regional Medical Center (YRMC) Board of Directors has decided not to move forward with a proposed affiliation with LifePoint Health.
The Board made the unanimous decision Monday after spending months investigating the possibility of entering a joint venture with the healthcare company. LifePoint operates a nationwide network of healthcare facilities. An agreement would have changed YRMC's status as a non-profit hospital.
“LifePoint shared our deep commitment to keep quality care local. While there were many positive
attributes that would have come from this joint venture, at the end of day we determined that
the timing and details needed to move this forward were not in the best interest of our hospital
and the needs of our community,” said Woody Martin, the Chairman of the Board.
Martin says the decision not to join LifePoint does not end the hospital's desire for a network affiliation.
“The realities of constantly advancing technologies, skyrocketing pharmaceutical costs, a growing shortage of skilled healthcare professionals and increased labor costs are even more difficult as an independent hospital,” said Martin.
He says YRMC will continue to look for an arrangement that will help it build its behavioral, specialty, and primary care services.
The proposed partnership with LifePoint drew a lot of concern from the community at a public meeting in October.
If the merger had gone through, YRMC would have become a for-profit entity, meaning some of the hospital's extra revenue could leave Yuma and go to shareholders.
YRMC CEO Dr. Robert Trenschel says this decision doesn't mean the hospital won't continue to look for a partner.
“We may look at a partnership at some point in the future, in fact I think we most likely will," Trenschel said
Tresnchel also did not rule out the possibility of trying to merge with LifePoint again in the future.
“We continue to believe LifePoint was a cultural fit, and we continue to believe LifePoint is a high-quality organization,” Trenschel said.
In a phone interview, Jeffrey Polston, Chairman of the Hospital District Board One, said he does not know how this recent announcement will impact the district board's relationship with the hospital.
The next Hospital District Board One meeting is on Wednesday, December 8th, at 5:30 pm in the Aldrich Auditorium.
