PORT ANGELES — Olympic Medical Center commissioners received a progress update on the hospital’s exploration of a potential partnership with another health care network at their regular meeting Wednesday from Juniper Advisory, the company it hired to guide it through the search process.
If attendees in the room and listening in online had expected news of who that potential partner might be, they were disappointed.
The presentation from Chris Benson, Juniper’s managing director, came after an extended executive session; commissioners took no action when they reconvened.
Benson acknowledged the high level of interest and desire for information the partnership process had created.
“While it seems like it takes a long time and we acknowledge the pressure that is naturally inherent and leads to ambiguity in both the community and for the employees, it’s one that the board is taking very seriously because of the comprehensive approach and also ensuring they have the information to ultimately make that decision,” he said.
OMC was now in the “decision phase” of the process, Benson said. During this time commissioners are reviewing key terms submitted by each of the potential partners. The board will then vote in a public meeting on a preferred partner; it could also decline to pursue the partnership process and remain independent.
A letter of intent between OMC and its preferred partner would be drafted, followed by due diligence by both parties, leading to a binding agreement.
Benson said the goal was to have this accomplished by early fall.
Any agreement would be subject to regulatory review and approval.
When considering finalists and their terms, the board has focused on three priorities.
“What is the value that is being created through this partnership, what is the clinical strength of the partner and does it align with the objectives and is there a cultural fit,” Benson said.
That partner must also have the financial capacity for what it is proposing, he added.
The great unknown is how federal legislation will impact hospitals, patients and providers.
“There is quite a bit of uncertainty in the nation with respect to the future of health care funding,” Benson said. “The time invested now helps ensure that any potential partnerships deliver the lasting value that OMC wants for both employees, the region and most importantly, patients.”
More than 20 regional, state and national health care companies responded to initial outreach from Juniper in January expressing interest in a potential partnership with OMC. As reported in the Peninsula Daily News, 10 of these signed non-disclosure agreements agreeing to receive and exchange confidential information with OMC.
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Reporter Paula Hunt can be reached by email at paula.hunt@peninsuladailynews.com
