FOR IMMEDIATE RELEASE:
November 6, 2012
Kewanee Hospital Signs Letter of Intent to Join OSF HealthCare
Kewanee Hospital (KH) has signed a Letter of Intent to affiliate with OSF HealthCare, one of the largest integrated systems in Illinois. The partnership with OSF HealthCare would give Kewanee and the surrounding community access to more high-quality specialty care, close to home. Kewanee Hospital has collaborated with OSF HealthCare for many years, and the two organizations share similar missions of "improving the health and care of those we serve."
"Kewanee Hospital's potential affiliation with OSF HealthCare is great news for the communities served by Kewanee Hospital," said Gary Pheiffer, Chair of the KH Board of Trustees. "It will ensure local access to quality health care for many years to come. This potential partnership also will allow Kewanee Hospital to grow and offer a wider variety of specialty services while improving our ability to recruit new doctors, advance practice nurses, and other medical professionals."
OSF Healthcare System CEO Kevin Schoeplein confirms this sentiment and explains the rationale behind the possible affiliation. "OSF and Kewanee Hospital share a united mission and vision for the future: to ensure that the tradition of high quality health care is enhanced and expanded in Kewanee and the surrounding communities."
Kewanee Hospital, like many stand-alone, private, not-for-profit hospitals, has been evaluating their future for several years. With the onset of Accountable Care Organizations, greater technology demands and the need for close collaboration, the number of stand-alone organizations is dwindling.
Lynn Fulton, CEO of Kewanee Hospital explains, "The board of trustees and the executive team began a strategic planning process in late 2010 to discuss the future of health care in light of reform. Our goal was to identify the path that would best carry the Hospital through the changing landscape and ensure long-term access to care for the community. After careful analysis and deliberation, we concluded that affiliation with a larger partner was the best mechanism to provide long-term viability, collaboration and enhancement of services. As a result, the Hospital looked at potential partnerships with many hospital and specialty groups, both regionally and nationally, with OSF HealthCare topping our list."
Pheiffer further added, "Kewanee Hospital is financially strong. We just finished FYE 2012 with a positive operating margin, have successfully added orthopedic services, and are looking to a bright 2013. Because of that, it is a great time to partner with OSF, one of the largest integrated systems in Illinois."
During the next few months, each organization will spend time learning more about each other to validate the benefits to the community. This process is called "due diligence." A decision on whether to move forward is expected later next year. Once the organizations have completed their due diligence and finalized the definitive agreement, then a detailed timeline for the transition can be developed.
FOR MORE INFORMATION CONTACT:
James G. Farrell - Senior Vice President, Marketing & Communications