Hillcrest HealthCare System has signed a definitive agreement to purchase the assets and operations of Claremore Regional Hospital and SouthCrest Hospital in Tulsa. The price and the financial terms of the agreement are not being disclosed.
The 180-bed SouthCrest Hospital, 89-bed Claremore Regional Hospital and their affiliated physician medical groups will become a part of Hillcrest HealthCare System SouthCrest’s approximately 800 employees and Claremore Regional’s approximately 370 employees will also become a part of HHS. The acquisition is expected to close this summer once all regulatory approvals are obtained. It will be business as usual at each hospital until the transaction is complete.
When complete, Hillcrest HealthCare System will include six hospitals with 1,159 licensed beds, more than 5,000 employees and more than 1,100 physicians.
“We’re excited to welcome SouthCrest and Claremore Regional to the Hillcrest family of hospitals,” said Kevin J. Gross, CEO of HHS and Oklahoma Division president of Ardent Health Services. “This acquisition creates an immediate and significant presence for us in the fast-growing and competitive south Tulsa County. It will increase access to important health care services for Hillcrest and SouthCrest patients, as well as provide closer specialized care to residents of Rogers County. This transaction will mean a dramatic improvement for both systems.”
For years, Hillcrest has developed its presence in Broken Arrow, Jenks, Glenpool and other south Tulsa County communities, adding clinics, physicians and some diagnostic equipment. When this acquisition is complete, it will have a large hospital in the center of the high-growth area.
“Very soon, we’ll be in a much stronger position in south Tulsa from which to compete,” added Gross.
“Since 2004, when Ardent Health Services purchased Hillcrest, we’ve been investing, building new hospitals, adding new services and creating new jobs. This acquisition completes an important piece of our strategy.”
For Claremore and Rogers County residents, the transaction means more health care choices, improved access and important specialty care that is closer at Hillcrest Medical Center in downtown Tulsa and Bailey Medical Center in Owasso.
In the coming weeks and months, Gross and his management team will work closely with physicians and members of leadership at SouthCrest and Claremore to create and implement a smooth transition that will enhance quality and patient services.
The acquisition is another example of investment in Tulsa and Oklahoma by Hillcrest’s parent company, Ardent Health Services. To date, more than $262 million have been invested into Hillcrest’s facilities, equipment and people since 2004.