PHOENIX – The Arizona Board of Regents and College of Arizona Health Network right this moment endorsed the framework of a deal that will allow Banner Well being to accumulate the Tucson-based mostly well being system and its two hospitals. Steven Lynn, chairman of the board of administrators for the UA Health Network, said this move is the result of extensive planning and evaluation by the health network. UA President Ann Weaver Hart signs an settlement on Thursday within the Kiewit Auditorium of the Arizona Most cancers Middle in assist of the Arizona Board of Regents resolution to grant approval to a merger between the Phoenix-based mostly Banner Health Center and the University of Arizona Well being Community. Sorry, however the story is rumour at this point, and I have no contacts with the AZ board.
UA Well being Community recognized that Banner is a strategic accomplice who would improve and strengthen our options and operations whereas honoring our unique legacy and tradition,” Lynn mentioned. Banner would pay off the UA Health Community’s debt of about $146 million and create a $300 million educational enhancement fund that will pay $20 million a year to assist educational endeavors on the College of Drugs – Tucson and the College of Medication – Phoenix. A $500 million funding in capital enchancment at medical tasks in Tucson would even be made by Banner within the first five years.
The UA and Banner would enter right into a 30-12 months educational affiliation and Banner would offer financial assist to the College of Medicine – Tucson and the College of Medication – Phoenix. Banner would purchase the University of Arizona Medical Heart, the University of Arizona Medical Middle – South Campus, College Physicians Healthcare and three health plans owned by the UA Health Community. There is no anticipation of any disruption or modifications to these well being plans, mentioned Keith Anderson, a associate in the Well being Care Follow Group of the Drinker Biddle & Reath law firm.
The operations acquired from the UA Well being Network would also be co-branded by the UA and Banner. Banner would additionally buy the land round UAMC from the board of regents for $21 million and acquire the lease for the land at UAMC – South. Employees of the UA Well being Community would continue their employment for not less than six months after the deal is completed below the principles of settlement.
Banner, based in Phoenix, is the second largest employer in the state of Arizona and the acquisition of the UA Health Community would make Banner the largest employer in the state with more than 37,000 staff. Hart said she doesn’t anticipate this acquisition would cut back tuition costs on the College of Drugs – Tucson or the School of Drugs – Phoenix. Hart stated the next three years with this acquisition will be the most transformational in health care within the U.S. Assists with well being unit coordination tasks and reception responsibilities as needed.