Dallas-based Triad Hospitals will close its Douglas Community Medical Center in Roseburg, Ore., on Feb. 11 after failing to find a buyer for the 118-bed facility. Triad, a Columbia/HCA Healthcare Corp. spinoff, will take a $3 million charge for the fourth quarter of 1999 to reflect the closure. Douglas Community lost $3 million on net revenue of $22 million in 1999. Originally a not-for-profit, the facility was bought in 1985 by for-profit Hospital Corporation of America, which merged with Columbia Hospital Corp. in 1994.
LifePoint Hospitals, Brentwood, Tenn., has completed the sale of 28-bed Trinity Hospital, Erin, Tenn., to Associated Healthcare Systems, Alpharetta, Ga. LifePoint, a Columbia/HCA Healthcare Corp. spinoff, plans to sell or close two of its 22 other hospitals within the next four months. Separately, LifePoint said last week that it lost $7.4 million, or 24 cents per share, in the year ended Dec. 31, compared with a loss of $21.8 million, or 73 cents per share, in 1998. Revenue rose 3.4% to $515.2 million.
New American Healthcare Corp., Nashville, has signed a letter of intent to sell 71-bed Crosby Memorial Hospital, Picayune, Miss., to a physician group for undisclosed terms. Picayune Clinic has agreed to take on New American's pledge to build a replacement facility for the hospital. The deal is subject to approval by Southern Regional Corp., the hospital's former parent. A final agreement is expected within 30 days. Separately, New American announced it expects its stock to be delisted from the New York Stock Exchange because its share price has fallen below listing standards.
A small 62-year-old Michigan hospital that merged with a competitor four years ago has stopped offering inpatient acute-care services. Crystal Falls (Mich.) Community Hospital, a 16-bed hospital formerly owned by the city of Crystal Falls, will continue to offer outpatient services and will be converted into a nursing home. Crystal Falls Community merged with county-owned 30-bed Iron County General Hospital in Iron River, Mich., in 1996 to form not-for-profit Iron County Community Hospitals. Iron County Community Chief Executive Officer David Hoff said his hospital will spend $10 million to convert Crystal Falls Community into a nursing home and expand Iron County General's operating room.
Sisters of St. Francis Health Services, Mishawaka, Ind., has completed its $40 million acquisition of 181-bed Olympia Fields (Ill.) Osteopathic Hospital and Medical Center from Columbia/HCA Healthcare Corp. and its purchase of 60-bed Kendrick Memorial Hospital, Mooresville, Ind. The system's proposed acquisition of 424-bed Ingalls Hospital, Harvey, Ill., is pending.