OU Medicine and HCA Healthcare conclude Oklahoma hospital transaction

OU Medicine and HCA Healthcare conclude Oklahoma hospital transaction

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OU Medicine, Inc. today concluded a previously announced transaction with HCA Healthcare that will transfer ownership and management of OU Medical System hospital facilities from HCA to OU Medicine, Inc.
OU Medicine assumed ownership and day-to-day operations of the Oklahoma City-area hospitals on midnight Feb. 1, with a mission of leading health care.
HCA, an investor-owned corporation in Nashville, Tennessee, had managed the hospitals under a joint operating agreement with the University Hospitals Authority and Trust (UHAT) since 1998. Last year, UHAT and the University of Oklahoma created an Oklahoma-based nonprofit corporation, OU Medicine, Inc., to acquire HCA’s local interests.
“We thank HCA for its many contributions to Oklahoma health care and look forward to a new chapter under the leadership of an Oklahoma-owned and operated nonprofit,” said Mike Samis, chairman of OU Medicine, Inc. “We believe this approach will advance health care in Oklahoma by supporting the highest-quality patient care, critical training for future physicians and other health professionals, and cutting-edge medical research.”
So far, OU Medicine has hired 200 new employees and anticipates hiring as many as 100 more by the end of 2018, totaling an additional $20 million in payroll.
Along with the added jobs, OU Medicine recently broke ground on a new 450,000-square-foot patient bed tower at OU Medical Center, adding 32 new operating rooms and 144 patient beds, making it the largest health care building project in the state.
“From the growing robotics program, to new programs at OU Medical Center Edmond, to the expanded pediatric intensive care unit at The Children’s Hospital and the groundbreaking of the new OU Medical Center bed tower, it’s an exciting time for OU Medicine,” said Chuck Spicer, president and CEO of OU Medicine. “We are a new company with high hopes and renewed determination to continue providing Oklahomans the high level of care they deserve. I’m ecstatic to embark on this new journey. Through our combined efforts, our mission is to lead health care and improve the lives of all people.”
The company’s formation fulfills a longtime goal to further advance the state’s premier academic health system, elevating patient care, clinical research and the education of health professionals for the benefit of all Oklahomans.
“The OU Health Sciences Center is extremely proud to strengthen our partnership with OU Medicine,” said OU Health Sciences Center Senior Vice President and Provost, Dr. Jason Sanders. “Our physicians are national leaders and the largest group of specialists in Oklahoma, our researchers bring new treatments and technology to the bedside, and we train tomorrow’s physicians, nurses and team of health professionals.”
A local board consisting of UHAT, OU and community representatives will govern the new OU Medicine. Hospital earnings will come back to Oklahoma.
“This is a very special day for Oklahomans as OU Medicine will reinvest earnings back into growing a premier academic health system,” said OU President David L. Boren.
“I know this is a day eagerly awaited by many and with good reason. Today marks another important step forward for health care in our state. The transition of our teaching hospitals to OU Medicine paves the way for further improvements in the physical environment of this academic-based medical center. It also brings with it the creation of new jobs. Most importantly, though, it further elevates medical research, education and clinical care for the benefit of all Oklahomans,” said Gov. Mary Fallin.

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