YRMC Board of Directors will formally explore forming a joint venture with national leader; proposed partnership would help secure long-term ability to offer high-quality care and services in Yuma
As the next step of a careful and thoughtful process to determine the best way to advance healthcare in Yuma County, the Yuma Regional Medical Center (YRMC) Board of Directors has agreed to a non-binding letter of intent (LOI) with LifePoint Health to explore forming a joint venture that would build on YRMC’s longstanding legacy and advance healthcare services in the Yuma community.
LifePoint is a national leader in the delivery of community-based healthcare, supporting the health and wellbeing of communities across the country. LifePoint operates healthcare facilities in 29 states, including three hospitals in Arizona: Canyon Vista Medical Center in Sierra Vista, Havasu Regional Medical Center in Lake Havasu City, and Valley View Medical Center in Fort Mohave.
The YRMC Board of Directors engaged in a comprehensive process to evaluate the future of the organization to ensure the continued improvement of the health and wellbeing of Yuma County. The proposed partnership with LifePoint would provide YRMC a special opportunity to build on YRMC’s solid position and undertake important work to further advance local healthcare in Yuma County and the broader region. LifePoint was unanimously selected as the right fit to proceed toward finalizing a partnership.
“Throughout this process our board has committed to deliberately and thoughtfully determine the best way to prepare YRMC for the future,” said Woody Martin, chairman of the YRMC Board of Directors. “We’re thrilled that our process has resulted in finding a partner who shares our values and our commitment to delivering high-quality care to the people we serve. This proposed joint venture presents a unique opportunity that would ensure Yumans continue having an important voice in future decisions about YRMC. LifePoint is one of the most respected healthcare companies in the country, and they are a great cultural fit for Yuma. We’re pleased to be able to take this next step in our partnership exploration because we believe LifePoint is the right partner to move YRMC forward.”
Since 1958, YRMC has played a vital role in the health and wellness of the Yuma community. The proposed joint venture with LifePoint will ensure the continuation of local governance, as well as access to industry-leading clinical and operational best practices and resources.
While the details of the proposed partnership will be finalized in the weeks ahead, YRMC and LifePoint have agreed to focus on enhancing clinical quality, developing the YRMC workforce and maintaining and enhancing local services.
“This proposed partnership is an exceptional opportunity to transform healthcare for our community for the better,” said Robert Trenschel, DO, president and CEO of YRMC. “Bringing LifePoint’s national experience and expertise into Yuma would enable YRMC to address some of the most critical issues facing us as a community – including things like mental health and the need for expanded access to services in Yuma. Our staff, our physicians, our patients and our entire community would benefit from all that can be accomplished with LifePoint by our side. Importantly, YRMC will continue to serve as a cornerstone of this community, with patients having continued access to the services and physicians they know today.”
With the non-binding LOI in place, the organizations will engage in mutual due diligence to determine the details of the definitive agreement while also working with Hospital District No. 1 of Yuma County regarding the hospital’s lease. After a definitive agreement is signed and pending standard regulatory review and the satisfaction of customary closing conditions, the partnership is expected to be finalized by the end of the year.
A special website has been developed to provide further and ongoing information about the proposed partnership: www.yumaregionalforward.org.