Billings (Mont.) Clinic and RegionalCare Hospital Partners, based in Brentwood, Tenn., have formed a joint venture called Billings Clinic RegionalCare LLC.
Under the terms of the agreement, Billings Clinic will remain independent. The joint venture will mostly offer other providers expanded clinical services, integrate and recruit physicians and create access to capital. Financial details of the deal were not disclosed.
"This creates an additional opportunity for other organizations and communities that have an interest in exploring a relationship with Billings Clinic," said Billings Clinic CEO Nicholas Wolter, MD, in a news release. "RegionalCare brings extensive management experience, along with physician recruitment strategies and access to capital at a time when many communities are in need of such assistance."
Billings Clinic owns a 272-bed hospital and manages nine critical access hospitals in Montana, Wyoming and the Dakotas. RegionalCare, backed by private equity firm Warburg Pincus, runs eight community hospitals in seven other states.
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Under the terms of the agreement, Billings Clinic will remain independent. The joint venture will mostly offer other providers expanded clinical services, integrate and recruit physicians and create access to capital. Financial details of the deal were not disclosed.
"This creates an additional opportunity for other organizations and communities that have an interest in exploring a relationship with Billings Clinic," said Billings Clinic CEO Nicholas Wolter, MD, in a news release. "RegionalCare brings extensive management experience, along with physician recruitment strategies and access to capital at a time when many communities are in need of such assistance."
Billings Clinic owns a 272-bed hospital and manages nine critical access hospitals in Montana, Wyoming and the Dakotas. RegionalCare, backed by private equity firm Warburg Pincus, runs eight community hospitals in seven other states.
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