Members of the Valley Hospital Association, which oversees 36-bed Valley Hospital, Palmer, Alaska, have overwhelmingly approved a joint venture with Triad Hospitals, Plano, to build a $75 million, 75-bed replacement facility near Palmer. The deal, which passed by a vote of 1,331-206, still needs approval from the state health department and may need to be reviewed by the state attorney general's office.
Under the deal, for-profit Triad, which operates some 200 hospitals nationwide, would provide the majority of the financing and reap the majority of the profits; but the not-for-profit association would share control of the new hospital through a 10-member governing board made up equally of Triad representatives and local residents. Construction is scheduled to begin in summer 2003 and take two years to complete. -- by Laura B. Benko