Hillcrest to Acquire SouthCrest & Claremore Hospitals

June 28, 2011

TULSA, Okla., June 28, 2011 /PRNewswire/ — Hillcrest HealthCare System has signed a definitive agreement to purchase the assets and operations of SouthCrest Hospital in Tulsa, Okla., and Claremore Regional Hospital in Claremore, Okla. The price and the financial terms of the agreement are not being disclosed.

The 180-bed SouthCrest Hospital, 89-bed Claremore Regional Hospital and their affiliated physician medical groups will become a part of Hillcrest HealthCare System (HHS). The hospitals’ nurses and staff, which include more than 1,100 employees, will all be hired. The acquisition is expected to close this summer once all regulatory approvals are obtained. It will be business as usual at each hospital until the transaction is complete.

When complete, Hillcrest HealthCare System will include six hospitals with 1,159 licensed beds, more than 5,000 employees and more than 1,100 physicians.

“We’re excited to welcome SouthCrest and Claremore Regional to the Hillcrest family of hospitals,” said Kevin J. Gross, CEO of HHS and Oklahoma Division president of Ardent Health Services. “This acquisition creates an immediate and significant presence for us in the fast-growing and competitive south Tulsa County. It will increase access to important health care services for Hillcrest and SouthCrest patients, as well as provide closer specialized care to residents of Rogers County. This transaction will mean a dramatic improvement for both systems.”

For years, Hillcrest has developed its presence in Broken Arrow, Jenks, Glenpool and other south Tulsa County communities, adding clinics, physicians and some diagnostic equipment. When this acquisition is complete, it will have a large hospital in the center of the high-growth area.

“Very soon, we’ll be in a much stronger position in south Tulsa from which to compete,” added Gross. “Since 2004, when Ardent Health Services purchased Hillcrest, we’ve been investing, building new hospitals, adding new services and creating new jobs. This acquisition completes an important piece of our strategy.”

For Claremore and Rogers County residents, the transaction means more health care choices, improved access and important specialty care that is closer at Hillcrest Medical Center in downtown Tulsa and Bailey Medical Center in Owasso.

In the coming weeks and months, Gross and his management team will work closely with physicians and members of leadership at SouthCrest and Claremore to create and implement a smooth transition that will enhance quality and patient services.

The acquisition is another example of investment in Tulsa and Oklahoma by Hillcrest’s parent company, Ardent Health Services. To date, more than $262 million have been invested into Hillcrest’s facilities, equipment and people since 2004.

About Hillcrest HealthCare System

Hillcrest HealthCare System (HHS) is one of eastern Oklahoma’s leading health care providers. Nearly 4,000 HHS employees work each day to provide compassionate, innovative and high-quality healthcare in the communities they serve throughout the state. HHS is a comprehensive system comprised of Hillcrest Medical Center in Tulsa, Oklahoma Heart Institute, Bailey Medical Center in Owasso, Henryetta Medical Center, Cushing Regional Hospital and one of Oklahoma’s largest physician groups, Utica Park Clinic. Hillcrest HealthCare System is a part of Ardent Health Services.

Media Contact/For More Information:
Angela Peterson, Media & Public Relations Manager, Hillcrest HealthCare System
918.579.5203 (office) or 918.605.3573 (media cell phone) or anpeters@hillcrest.com

SOURCE Hillcrest HealthCare System

Source: newswire

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