Yuma (Ariz.) Regional Medical Center, a 406-bed nonprofit hospital, signed a letter of intent to explore a partnership with Brentwood, Tenn.-based LifePoint Health.
The organizations will explore forming a joint venture. The goal of the potential partnership is to ensure the hospital remains financially stable and in the best position possible to meet the health needs of its patients.
The organizations will enter a period of due diligence to determine the details of a definitive agreement.
Yuma Regional said the proposed partnership with LifePoint would ensure the continuation of local governance, access to industry-leading clinical and operational best practices and key resources.
"This proposed partnership is an exceptional opportunity to transform healthcare for our community for the better," said Robert Trenschel, DO, president and CEO of Yuma Regional. "Our staff, our physicians, our patients and our entire community would benefit from all that can be accomplished with LifePoint by our side."
Yuma Regional started exploring potential partnerships this spring. The hospital said it was searching for a like-minded partner to help it "address the complex issues and challenges facing the nation’s independent hospitals."