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		<title>CAH Acquires GPC Hospital</title>
		<link>http://criticalaccesshealth.com/blog/?p=5</link>
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		<pubDate>Tue, 13 Apr 2010 14:57:22 +0000</pubDate>
		<dc:creator>C. Slaton</dc:creator>
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		<description><![CDATA[History was made on October 4, 2007 when Charlie Slaton, CEO of  Critical Access Healthcare, LLC (CAH) announced the company’s  acquisition of Golden Plains Community Hospital, a 25-bed critical  access hospital in Borger, Texas.
Under the terms of the September 30, 2007 agreement, CAH  acquired all of the assets of Golden Plains [...]]]></description>
			<content:encoded><![CDATA[<p>History was made on October 4, 2007 when Charlie Slaton, CEO of  Critical Access Healthcare, LLC (CAH) announced the company’s  acquisition of Golden Plains Community Hospital, a 25-bed critical  access hospital in Borger, Texas.</p>
<p>Under the terms of the September 30, 2007 agreement, CAH  acquired all of the assets of Golden Plains Community Hospital – except  for the existing hospital building – from the Hutchinson County Hospital  District. CAH operates the existing facility under a lease agreement  with the District until the new hospital is completed during the summer  of 2011.  The new facility will also be owned by the District and leased  by CAH.</p>
<p>Golden Plains Community Hospital had steadily lost market  share over much of the last two decades, in large part because of the  deterioration of its physical plant. The original hospital was  constructed in 1937 and the weighted average of the hospital’s plant is  49 years. Recognizing the community’s need for a new hospital, the  District Board considered a number of funding options, including a $25  million bond issue. This proposal was defeated in a September 2004  public referendum. The Board decided to seek a buyer for the hospital  who would agree to build a replacement facility.</p>
<p>CAH brought a unique solution to the Board: A  Public/Private Collaboration model that is designed to build upon the  strengths of both parties. The District, with a deep community  commitment, provides tax support to care for indigent patients as well  as operate the Borger EMS. CAH provides management, capital resources  and reimbursement improvements.</p>
<p>“CAH made the best offer with the most integrity, not just  in terms of their willingness to commit in writing to building a new  facility, but also in terms of their history and the reputation of their  people,” said Jason Vance, then chairman of the Hutchinson County  Hospital District Board of Directors. “The other bidders didn’t rise to  that level of credibility with the Board. I believe we came up with the  optimal solution. I have confidence that with CAH we’ll finally have the  medical services this community needs and deserves.”</p>
<p>CAH’s long-term plans for the new facility include  recruiting physicians, adding   services, maintaining the District’s  charity care guidelines and continuing the tradition of District    representation on the governing Board.  CAH also will focus on improving  operations and making the hospital profitable.</p>
<p>“We have created a partnering relationship between CAH and  the Hospital District,” said Slaton. “We will work together to give the  citizens of Hutchinson County a new, fiscally strong hospital and  together we will improve the health of this community. We believe we are  creating a sustainable model for rural healthcare in the future.”</p>
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