UPDATED: St. Vincent, UAMS End Strategic Alliance Talks

by Arkansas Business Staff  on Friday, Jul. 26, 2013 2:55 pm  

Dan Rahn, chancellor of the University of Arkansas for Medical Sciences.

The short statement from UAMS and St. Vincent:

The University of Arkansas for Medical Sciences (UAMS) and St. Vincent Health System have reached the end of the exploration of a strategic alliance between our two institutions. Despite the good faith efforts of everyone involved, neither entity has been able to define a pathway that meets the goals of both institutions.

Therefore, UAMS Chancellor Dan Rahn, M.D., and other UAMS leaders are recommending to the University of Arkansas Board of Trustees that UAMS end negotiations on a strategic alliance with St. Vincent Health System. UAMS and St. Vincent began discussions several months ago in an effort to determine if there was a way to advance our shared vision and purpose of improving the health and health care of the people of the state of Arkansas through a strategic alliance. While we are ending these discussions, we will keep the door open for other ways in which we might work together in the future.

Here's Banko's full statement:

When we started these discussions almost two years ago, there was great promise in an affiliation that could truly build a statewide health network and greatly expand education & research. This is the right thing to do for our community, health care in Arkansas, and economic development in our state.

During the course of our discussions, we developed a vision and value proposition for an affiliation that would “provide world-class, value-based care” and “boldly transform health care delivery”. We found that there was more than $80 million in operational improvements through integration and that Catholic Health Initiatives was willing to invest more than $200 million to support education, research, and the success of the affiliation. Unfortunately, both parties were never able to come to agreement on how best to achieve the vision and value proposition.

We have enjoyed getting to work directly with Dr. Dan Rahn at UAMS and the many other board members and leaders at the University of Arkansas System. We still think an affiliation with UAMS makes sense for our community and St. Vincent would be more than happy to entertain discussions at any point in the future.

St. Vincent will continue its diligent focus on putting the patient first. St. Vincent will continue to work hard to partner with world-class physicians as well as be the workplace of choice for the best and brightest nurses, technicians, and associates. St. Vincent will be building a statewide network in Arkansas.

St. Vincent is the most efficient health system in Arkansas today. We are ranked #1 by U.S. News & World Report including recognition as high performing in eight specialties.  We are the first and only Magnet recognized facility in the state.  That is a great place for us to be today and every day into the future!

 

 

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