YUMA, Ariz. (KYMA, KECY) – The board of directors of the Yuma Regional Medical Center has approved a letter of intent (LOI) with Lifepoint Health to explore the creation of a joint venture.
Lifepoint is a nationwide healthcare company with facilities in 29 states. Three hospitals in Arizona communities such as Sierra Vista, Lake Havasu City, and Fort Mohave.
YRMC and Lifepoint have agreed to focus on improving clinical quality, developing the current YRMC workforce, and maintaining and improving local services.
“During this process, our board of directors has committed to consciously and deliberately finding the best way to prepare YRMC for the future,” said Woody Martin, chairman of the YRMC board of directors.
After the MOU is in place, the organizations will conduct mutual due diligence to determine the details of the final agreement while also working with Yuma County No. 1 Hospital District on the rental of the hospital. After signing a definitive agreement and pending regulatory standard review, as well as meeting 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.
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