TULSA, Okla.-Hillcrest HealthCare Corp. signed a strategic partnership agreement with three regional hospitals managed by Quorum Health Resources, Brentwood, Tenn. The hospitals are Cushing (Okla.) Regional Hospital, Henryetta (Okla.) Medical Center and Tahlequah (Okla.) City Hospital. Under the agreement, Hillcrest will be the preferred urban healthcare system for those hospitals. Hillcrest is the parent company for Hillcrest Medical Center and Children's Medical Center, both in Tulsa. In addition, Hillcrest has agreed to lease Cushing Regional, which is owned by the city of Cushing. Under the 10-year lease, Quorum will continue to manage the hospital.
DENVER-Principal Mutual Life Insurance Co. of Des Moines, Iowa, and Springfield-based Massachusetts Mutual Life Insurance Co. have joined with a group of healthcare systems to purchase Denver-based Sloans Lake Management Corp., a healthcare management firm. Sloans Lake operates Colorado's largest PPO and offers automobile injury and workers' compensation insurance as well as large case management and behavioral health services. Terms of the deal weren't disclosed. The purchasers plan to enter the HMO marketplace in Colorado. The other new owners are Englewood, Colo.-based HealthOne Health Care System, Denver-based Rocky Mountain Adventist Healthcare and Sisters of Charity Health Care Systems. Executives of Sloans Lake retain a small interest in the firm.