Newspaper article THE JOURNAL RECORD

OKC's Deaconess Hospital Forges Alliance with Triad Hospitals Inc

Newspaper article THE JOURNAL RECORD

OKC's Deaconess Hospital Forges Alliance with Triad Hospitals Inc

Article excerpt

Deaconess Hospital officials have selected Triad Hospitals Inc. to operate their 313-bed facility in Oklahoma City.

The letter of intent with Triad was signed Tuesday nearly a year after Deaconess announced that it was seeking a partner.

Triad, based in Plano, Texas, operates three other hospitals in Oklahoma.

Deaconess spokeswoman Kay Brezny said the process of due diligence should take between 60 and 90 days.

In a prepared statement, David Houston, chairman of the Deaconess Hospital board, said board members chose the publicly traded Triad because the company's philosophy of health care best matched the Deaconess mission.

Triad is known throughout the health care industry for its successful partnerships with not-for-profit and community hospitals and hospital systems, Houston said. They have a reputation for upholding the hospital's mission to serve the community.

In January, Deaconess and St. Anthony Hospital of Oklahoma City created a local buzz when hospital officials initiated discussions to explore a similar working relationship.

Cynthia Archiniaco, vice president of finance marketing at St. Anthony, said she was somewhat surprised by the board's final decision.

We started out in discussions and got a point about six, eight months down the road when the (Deaconess Hospital) board decided that they needed to widen their choice of options, Archiniaco said. So they engaged a brokerage firm that deals with this kind of thing. And that firm issued a request for proposal and assisted in describing what the structure of the deal should look like.

We responded, along with whomever else they invited - and we got as far as the final round on that go. And then they selected this for-profit, nationally traded company, she said. The board decided they needed to take a broader look at their options and obviously they changed their overall direction. …

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