Jan 28 Wyoming Medical Center Announces Non-Binding Letter of Intent with Banner Health
Organizations Enter Period of Mutual Due Diligence to Discuss Details of Potential Affiliation
Casper, Wyo. – The Wyoming Medical Center (WMC) Board of Directors announced today the signing of a non-binding Letter of Intent (LOI) with Banner Health. This step will allow the necessary time for the organizations to conduct mutual due diligence and for the opportunity to fully determine the specific terms of a potential affiliation before any final decisions are made.
Today’s news comes after the hospital announced it was exploring whether an affiliation with a like-minded organization made sense for the region when it unveiled its strategic plan aimed at securing the future of healthcare in Wyoming last spring.
“Wyoming Medical Center is a jewel, and it is vital to this community and state,” said Michele Chulick, President and CEO of Wyoming Medical Center. “Given the challenges of our industry, the WMC Board has been engaged in ongoing work to strategically plan for the future and ensure our hospital continues to be well-positioned to care for our patients and communities into the future.”
“Banner has strong roots in this state, and we are excited to explore the opportunity to expand our presence in Wyoming through a partnership with Wyoming Medical Center,” said Scott Nordlund, Chief Strategy and Growth Officer of Banner Health. “We believe that our shared strategies and values make the two organizations a natural fit.”
The non-binding LOI does not commit WMC to an affiliation. Rather, it allows the organizations to spend time to research and learn more about each other and the opportunity to fully determine the specific terms of an affiliation that would advance healthcare in the area.
“Banner Health’s national reputation and Wyoming roots with three hospitals here in the state, combined with their non-profit mission, make them an ideal partner,” said Jessica Oden, Chair of the WMC Board of Directors. “We are excited about Banner’s interest in investing in the future of healthcare in our region and further building on its history of taking care of people in Wyoming.”
During this quiet period of mutual due diligence, the WMC Board will continue to be guided by the four drivers of the hospital’s strategic plan, which are being used as criteria to explore an affiliation. They include:
- Advanced clinical coordination. WMC employees are vital to advancing care in Wyoming, and the Board understands the critical role its physicians play in delivering care. As WMC works through this process, protecting employees and maintaining a strong physician community will be of the utmost importance. The Board continues to be committed to expanding clinical services here in Wyoming as well as maintaining the hospital’s status as a regional trauma center.
- Improved business infrastructure. WMC aims to invest in innovative technologies, as well as the training and development of its workforce, to enhance the care delivered and keep with the pace of change.
- Long-term commitment to community for quality healthcare. Local, high-quality healthcare access is key to ensuring Wyoming is a great place to live, work and raise a family. As the organizations drill down into the finer details, WMC will remain a trusted community partner that continues to be focused on expanding services that are close to home.
- Local customization and respect for the hospital’s history and who it is. Wyoming Medical Center is Casper’s only full-service, non-profit hospital. With a mission-centered calling at its core, the hospital will continue to care for everyone in need.
“Banner is committed to expanding clinical services here in Wyoming as well as maintaining Wyoming Medical Center’s status as a regional trauma center,” said Nordlund.
“We are excited about Banner’s expertise and capabilities which are important for the ongoing needs of our community,” Oden said.
The quiet period of mutual due diligence is expected to last several months, though the hospital expects to have more details to share in the spring.
“When we have more details, we will be sure to provide them to our employees, physicians, patients and community to ensure their questions are answered and that there is an understanding of what this potential affiliation means for our community,” Chulick said. “We remain committed to advancing the health and wellness of our region and community to ensure the highest-quality healthcare access for years to come.”
To learn more about Wyoming’s healthcare future, please visit www.WMCforward.org.