Owensboro Health and Twin Lakes Regional Medical Center have signed an official letter of intent, an agreement that opens the door for the Leitchfield-based hospital to officially join Owensboro Health later this summer. Once formal terms are reached, Twin Lakes would become the third hospital in the Owensboro Health system, joining Owensboro Health Regional Hospital and Owensboro Health Muhlenberg Community Hospital.
“For both organizations, this is an exciting day that holds tremendous promise for the future of healthcare in our region,” said Greg Strahan, president and CEO of Owensboro Health. “By working together as one system, we can help more people and have a significant impact on the communities we serve, and that is a vision we all share.”
Last August, Twin Lakes announced that it would seek a strategic partnership with another health system that could strengthen its market position, assist with resources and management practices, and enhance the long-term viability of the hospital. Over an eight-month period, Twin Lakes held talks with several potential candidates, ultimately deciding that Owensboro Health was the best fit.
“We approached this process from a position of strength, which has enabled us to select the best possible partner for TLRMC,” said CEO Wayne Meriwether. “This affiliation will provide us with economies of scale and increased access to capital for continued investment in our facilities, technology, and people. Most important, we will be able to move forward with a strong partner who shares our values and our commitment to high quality rural healthcare.”
The letter of intent is the first step toward more a more formalized affiliation agreement, which officials could have in place by late summer. According to Owensboro Health Board Chair Jeff Carpenter, Twin Lakes has a long, distinguished history of serving Grayson County and its surrounding counties: Breckinridge, Ohio, Butler, Edmonson, Hart and Hardin. Adding Twin Lakes, Carpenter said, gives Owensboro Health an opportunity to extend its footprint even further into western Kentucky while strengthening TLRMC’s ability to offer quality healthcare to the Grayson County area.
“With our progress at OHMCH, the growth of our three healthplexes and this new affiliation, Owensboro Health is enjoying tremendous momentum and is well-positioned as a regional healthcare leader. It is an exciting time to be a part of this system, and we look forward to welcoming Twin Lakes into our family.“
“From the outset of this process we have been guided by a set of objectives that included preserving our culture of community-based care and enhancing the long-term financial viability of our hospital and physician services,” said Twin Lakes Board Chair Trevor Ray, PharmD. “More than any other prospective partner we met with, Owensboro Health demonstrated a commitment to our people, our strategic objectives and our vision for the future.”