Negotiations Between Trinity Health and Billings Clinic RegionalCare, LLC, End With No Definitive Agreement Reached
FOR IMMEDIATE RELEASE
Date: November 12th, 2015
Contact/Phone: Mary Muhlbradt
(701) 857-5116, Cell: (701) 833-3341
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(MINOT, ND)— Trinity Health and Billings Clinic RegionalCare, LLC, (BCRC) have agreed to end negotiations toward a possible partnership. The two organizations entered into a due diligence process last June after Trinity's board signed a Letter of Intent to become part of the joint venture between Montana-based Billings Clinic and Tennessee-based RegionalCare Hospital Partners. The due diligence period expired October 31st without reaching a definitive agreement between the entities.
Trinity Health initiated partnership discussions last May in an effort to bolster its growth-oriented strategies in central and western North Dakota. According to Trinity Health board chairman Pat Holien, the organization will continue to aggressively move forward with its plans to build a new hospital and medical district. "Trinity Health is fortunate to be in a position of financial and clinical strength, so we can take the time necessary to ensure our strategic goals and objectives are achieved," Holien said.
Trinity Health President and CEO John M. Kutch added that the organization will continue to aggressively pursue its strategic imperatives. "Our care system is dedicated to providing quality services to the region at large, and while we cannot comment on the recently expired due diligence process, we will continue to explore partnerships that are aligned with our mission as the regional provider of healthcare services," Kutch added.
Meanwhile, staff and leaders at Trinity Health have been meeting this week with architects and engineers to review conceptual plans for the new hospital campus. Officials expect groundwork to begin in 2016, culminating more than three years of planning for the services and facilities needed to meet the growing needs of the region. According to Mr. Kutch, the planning and design of the new hospital campus started long before the due diligence process began with BCRC, and those activities have been running parallel to the BCRC discussions since; hence, Trinity has not lost valuable time nor effort during the negotiations in moving those plans to fruition.
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