The partnership is expected to be finalized and effective by mid-2023.
Two nonprofit Colorado-based health systems announced this week that they have agreed to a partnership to strengthen healthcare services throughout southern Colorado.
Parkview Health System, headquartered in Pueblo, and UCHealth, headquartered in Aurora, have signed a letter of intent for Parkview to join UCHealth in 2023.
Through what the organizations are calling a partnership, UCHealth has made a commitment to invest nearly $200 million into the Parkview and Pueblo community, Parkview's nursing and educational programs, and recruitment. Additionally, $5 million of that investment will go to the Parkview Foundation to establish a long-term fund to support the hospital, its patients, and the community.
"It’s no secret that Parkview Health System has faced financial challenges, especially during the COVID-19 pandemic," Leslie Barnes, president and CEO of Parkview Health System, said in a statement. "Joining UCHealth will provide new resources and long-term stability for Parkview’s patients, staff, providers, and the broader community, while allowing us to continue caring for underserved patients in our community."
The organizations hope to complete their final agreement and are expected to finalize the partnership in mid-2023. According to the press release, staff, providers, and leaders from Parkview will retain their positions following the transaction.
"UCHealth is honored that Parkview has chosen to join us, increasing the collaboration we started many years ago. We have similar missions and commitments to serving communities and providing the highest quality care for patients," Elizabeth B. Concordia, president and CEO of UCHealth, said in a statement. "We look forward to building on the excellent care that Parkview’s 3,000 staff members and providers deliver today while ensuring the hospital and its patients have long-term stability."
Melanie Blackman is the strategy editor at HealthLeaders, an HCPro brand.
Photo credit: Parkview Health System in Pueblo, Colorado. Photo courtesy of UCHealth.