MRMC Board of Directors Votes to Sell or Lease Hospital

Muskogee Regional Medical Center’s Board of Directors voted unanimously this week to sell or lease its community hospital. The decision comes after an intense six-month study examining the future growth and stability of the hospital which has served the community for more than 100 years.
“This is an historic day for our patients, our physicians, our employees and our community,” said Chris Condley, MRMC board chairman. “After careful study and deliberation, we believe MRMC must pursue a new form of ownership. A lease or sale of the hospital will position MRMC for a bright future.”
MRMC is courting potential suitors and contracted with Juniper Advisors L.P., a strategic consulting firm. Condley said the board remains committed to a lease or sale that will position the hospital to offer equal or better patient services and employee benefits.
“We are very optimistic about entering a win-win agreement for our employees and physicians. Any transaction that we approve will include job stability and possible opportunities for our physicians to participate in joint ventures,” Condley said.
The board has heard presentations from eight U.S. health care companies and visited four rural hospitals as part of the due diligence process. Condley said the board has narrowed down its selection to four potential companies, each with an excellent rural health care track record. They include Capella (Franklin, Tenn.); Community Health Systems (Brentwood, Tenn.); Essent (Nashville, Tenn.); and Signature (Dallas, TX.).
Condley says the board plans to move through negotiations with care and expects a lease or sale transaction by early 2007.

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