Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Ochsner, St. Tammany Parish Hospital to Form Affiliation

Ochsner Health System, one of Louisiana's largest health systems, based in New Orleans, and St. Tammany Parish Hospital in Covington, La., have signed a letter of intent to affiliate.

Financial terms of the deal were not disclosed. STPH is a 222-bed, district-owned hospital, and its governance will stay the same. The hospital's name will also not change. The partnership is centered around expansion of services at STPH, coordination of care between the two organizations and improved quality and technology.

"This partnership will enable St. Tammany Parish Hospital to align our strongly respected and well-loved brand with Ochsner's nationally recognized reputation, creating the largest, most comprehensive system in western St. Tammany," STPH President Patti Ellish said in a news release. "It is strategic partnerships like this one that will help healthcare organizations thrive in our changing industry."

In fiscal year 2012, STPH recorded $225.3 million in operating revenue, according to a Fitch Ratings report. That year, it also posted a "strong" 5.4 percent operating margin and had a 3.3 percent operating margin in the nine-month period ended Sept. 30.

More Articles on Hospital Transactions:
Lawrence General Expands Affiliation With Beth Israel Deaconess
J.C. Blair, PinnacleHealth Announce Partnership
8 Recent Hospital Transactions and Partnerships

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers