Issue link: https://beckershealthcare.uberflip.com/i/1034012
49 CFO / FINANCE For-profit hospital chain closes $78M deal for Washington health system By Ayla Ellison B rentwood, Tenn.-based RCCH Healthcare Partners acquired Kennewick, Wash.-based Trios Health Aug. 4 through a joint venture with Seattle-based University of Washington Medi- cine, according to the Tri-City Herald. The healthcare district that owned Trios Health filed for Chapter 9 bankruptcy in June 2017. About a year later, the district's unse- cured creditors approved a plan to sell Trios' assets to RCCH, which is owned by funds managed by Apollo Global Management. Trios emerged from bankruptcy in late June of 2018, and the $78 million deal officially closed Aug. 4, according to the Tri-City Herald. "We are excited to bring this innovative partnership with UW Med- icine as well as new, additional resources to this growing commu- nity," Marty Rash, RCCH chairman and CEO, said in a statement to the Tri-City Herald. RCCH is a for-profit hospital operator formed in 2016 through the merger of Franklin, Tenn.-based Capella Healthcare and Brentwood-based RegionalCare Hospital Partners, which was sold to Apollo Global Management in 2015. n UMMC withdraws offer to affiliate with 208-bed hospital By Alyssa Rege T he Jackson-based University of Mississippi Medical Center rescinded its offer to affiliate with the financially struggling Greenwood (Miss.) Leflore Hospital, according to the Delta Daily News. The board of the 208-bed hospital briefly discussed UMMC's of- fer — which city and county officials and hospital staff supported — during a meeting in mid-August. However, the board reportedly took no action and did not vote on the offer, the report stated. Under the proposed affiliation, UMMC would help the hospital in- crease patient volume, recruit new physicians and save millions of dollars by upgrading its current EHR system. UMMC would also provide Greenwood Leflore with an interim CEO. The hospital has been without a chief executive since March 2017 after the board voted not to renew former CEO Jim Jackson's contract. George Smith, MD, a physician liaison to the Greenwood Leflore Hospital board, told the The Greenwood Commonwealth he re- ceived a letter from UMMC outlining the hospital's frustration with Greenwood Leflore's lack of communication and the board's deci- sion not to renew Dr. Smith's contract or the contracts of three other physicians during the month of August. n New $8B health system: Bon Secours, Mercy Health finalize merger By Alia Paavola M arriottsville, Md.-based Bon Secours Health System and Cincinnati-based Mercy Health finalized their merger Sept. 5, establishing one of the largest Catholic healthcare systems in the nation. e combined organization, dubbed Bon Secours Mer- cy Health, will comprise 43 hospitals in seven states and more than 2,100 physicians. It will be the nation's fih-largest Catholic health system with $8 billion in net operating revenue and $239 million in operating income. Bon Secours and Mercy Health announced their in- tent to merge in February, meaning regulatory approval took just six months. "is expedited time frame was made possible by ear- ly alignment of similar cultures and grounding in mis- sion-based, quality care, as well as a focused, dedicated team of senior leaders who understood that this would create the opportunity to benefit millions of people across the communities they collectively serve," accord- ing to a news release announcing the finalized merger. e new system also announced its leadership team: • President and CEO: John M. Starcher, Jr. • COO: Brian Smith • CFO: Debbie Bloomfield • Chief Clinical Officer: Wael Haidar, MD • Chief Strategy Officer: David Cannady • Chief Administrative Officer: Mark Nantz • Chief Enterprise Risk Officer Jeff Oak • Chief Legal Officer: Michael Bezney • Chief Community Health Officer Sam Ross, MD • Chief Sponsorship and Mission Officer: Anne Lutz • Chief Human Resources Officer: Joe Gage • Chief Marketing Officer: Sandra Mackey • CNO: Andrea Mazzoccoli, RN • Chief Sponsorship and eology Officer: om Morris • Chief Mission Officer: Joseph Cardone n