Sierra Vista – Officials from Sierra Vista Regional Health Center, or SVRHC, and RegionalCare Hospital Partners announced May 1 they have completed the transaction for a long-term hospital lease and the construction of a new 100-bed regional hospital. Officials from both organizations signed the documents April 30, and the deal became official at 12:01 a.m. on May 1.
“This is a very exciting day for Sierra Vista Regional Health Center and the people of this region,” said Bruce Dockter, chairman of the board of trustees for SVRHC. “I am confident that RegionalCare Hospital Partners is the right partner to take healthcare in our community to the next level. They are committed to building a new medical facility, maintaining local control of the quality and delivery of services, and working closely with the hospital’s physicians and staff. We believe this new partnership will ensure access to high-quality care for the people of Sierra Vista and all of southeast Arizona for years to come. “
Dockter added, “Planning is already underway for the new 100-bed hospital which will be on the 70-acre ‘East Campus’ tract of land already owned by SVRHC. Groundbreaking is slated for later this year, and construction is expected to be completed in 18 months from the time of the groundbreaking. During the past several weeks, architects and planners from Gould, Turner Group Inc., have been working with hospital employees, medical staff representatives and local leaders to develop initial plans for the new facility.”
Margaret Hepburn, Sierra Vista Regional Health Center president and CEO said, “I am so thankful to the hospital employees and our board of trustees for all their hard work during the past few months. Everyone has truly gone ‘above and beyond’ in preparation for the transaction while at the same time remaining focused on meeting the needs of our patients and their families.”
As part of their agreement with the SVRHC hospital board of trustees, RegionalCare Hospital Partners has committed to make significant investments in the hospital and the community. In addition to the new 100-bed hospital, RegionalCare has committed $11 million in capital investments, many of which will begin immediately. This investment will provide for several important projects, including the addition of cardiac catherization services, and will help maintain a high level of quality care and patient safety while the new hospital is under construction. RegionalCare has also committed $18 million to recruit more than 25 physicians over the next seven years to supplement the existing medical staff.
Martin Rash, executive chairman of RegionalCare Hospital Partners, said, “We are honored to have been chosen by the board of SVRHC as the partner for the future of healthcare in southeast Arizona. Together, we have the resources to meet the challenges facing all community hospitals across the country. We look forward to working with the hospital board, medical staff, hospital employees and community officials to find the ways to provide the quality care and access to services this community deserves.”
About Sierra Vista Regional Health Center: SVRHC operates a Joint Commission Accredited 88-bed acute care hospital in Sierra Vista with an outpatient surgery and imaging center located on their east campus. Additionally, the hospital has two outpatient rehabilitation offices and an outpatient lab/infusion/hospice center in Sierra Vista and operates three outpatient clinics in Sonoita, Douglas and Tombstone.
About RegionalCare Hospital Partners: RegionalCare Hospital Partners was founded in 2009 with a $300 million investment from Warburg Pincus. With a commitment to high quality care and compassionate service, RegionalCare has grown to a nationwide eight-hospital system with facilities in Iowa, Ohio, Alabama, Texas, Pennsylvania, Connecticut, and Arizona. More information can be found at www.regionalcare.net.