Wayne HealthCare and Premier Health announced Friday the consideration of a new Joint Venture, according to a press release.
The partnership is subject to the approval of the Wayne Hospital Co. on March 23, 2017.
"We are proud to be working even more closely with everyone at Wayne HealthCare and the Greenville community," Mary Boosalis, president of Premier Health, said in the release. "We are committed to working together and learning from each other to provide more convenient and accessible care options close to home."
With this agreement, Wayne HealthCare develops an affiliate relationship with Premier Health, while still maintaining independent local control, the release said. The joint venture provides both entities opportunities to work more closely together in areas such as strategic development at the hospital and system level, possible group economies of scale in purchasing, along with education and training, according to the release.
Future projects will include support from Premier Health for the Wayne HealthCare master facility plan that includes a three story building to house a new obstetrical center, wellness center, a 28 private bed telemetry inpatient unit and a replacement for the Wayne Medical Building, the release said.
The addition will complete the hospital's master facility plan.
This further long term collaboration to enhance health care services is designed to improve hospital operational efficiency and help decrease the cost of care as well, according to the release.
Keeping the services close to home provides convenience to community members, reduces drive time, and increases access to the care they need in a familiar setting.
The joint venture will be structured in a seven year contractual relationship. At the end of the contract term, Wayne HealthCare will have the right to request to continue the relationship without change, request a restructuring of the contract elements or dissolve the joint venture, the release said.
During the contract period, Premier will make a $13 million investment in Wayne HealthCare. In return, Premier will be entitled to a one-third representation on the Wayne HealthCare Board.
Wayne HealthCare will have two ex-officio non-voting seats on the Premier Board. In addition, Wayne HealthCare senior leadership and physicians will participate in applicable Premier leadership conferences and planning sessions.
"Over the years our mission and vision have guided us and this new venture reflects well thought out steps for the future," said Wayne Deschambeau, president and CEO of Wayne HealthCare. "We are excited to build upon a proven record of success with an organization that is committed to enhance healthcare right here in Greenville."
