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Article Excerpt
Byline: JOE HARWOOD and MATT COOPER The Register-Guard
SPRINGFIELD - If you're going to marry for money, you might as well choose a billionaire.
So it will be for McKenzie-Willamette Hospital, which apparently has found a wealthy spouse in Triad Hospitals Inc., the third-largest for-profit hospital chain in the United States.
Faced with declining revenue and patient counts, along with pressure from a larger competitor, cash-strapped McKenzie-Willamette during the past several months has been quietly searching for a financial partner with deep pockets to keep the independent, nonprofit hospital afloat.
McKenzie-Willamette is expected to announce this morning that the search is over and it has signed a deal with Texas-based Triad.
Details of the arrangement - for example, whether Triad would buy McKenzie-Willamette or form some kind of partnership - were not clear Wednesday.
It also was unclear what Triad would do with McKenzie-Willamette. Many local observers were speculating that Triad would build a new hospital for McKenzie-Willamette in west Eugene, to serve a city that would be left without a major hospital if PeaceHealth is able to win approvals to build a new hospital in Springfield's Gateway area.
McKenzie-Willamette spokeswoman Rosie Pryor declined to comment, and Triad officials did not return phone calls to The Register-Guard.
But several local officials familiar with the situation, Springfield Mayor Sid Leiken among them, said Triad and McKenzie-Willamette had struck a deal.
"Triad is very, very excited about the prospects of being involved in the community, and the McKenzie-Willamette board and leadership is very excited about the agreement that has been made," Leiken said Wednesday morning.
Leiken later partially recanted,...
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More articles from The Register-Guard (Eugene, OR)
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Legislators begin dealing with fallout.(Government)(Measure 28: Expect..., January 30, 2003
Letters in the Editor's Mailbag.(Letters)(Letter to the Editor), January 30, 2003
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