Company Overview of RegionalCare Hospital Partners, Inc.

RegionalCare Hospital Partners, Inc. Presents at UBS Global Healthcare Conference, May-20-2013 02:30 PM. Venue: Sheraton New York Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: Kent H. Wallace, Chief Executive Officer and Director, Martin S. Rash, Executive Chairman.

RegionalCare Hospital Partners, Inc. announced it has promoted Martin S. Rash to Executive Chairman and named Kent H. Wallace as Chief Executive Officer (CEO). Mr. Rash, who founded the company in 2009, will continue to lead the company's strategy and business development activities. Mr. Wallace, who previously served as President and Chief Operating Officer at Vanguard Health Systems, assumes the CEO title from Mr. Rash and takes on the responsibilities of RegionalCare's President and Chief Operating Officer, John M. Rutledge, who is leaving the company to return to other business endeavors. Mr. Wallace will also join the company's Board of Directors. These leadership appointments are effective March 1, 2013.

RegionalCare Hospital Partners, Inc. has signed a letter of intent for a long-term hospital lease and the development of a new hospital. The agreement, slated to close on or about April 30, 2013, provides the resources Sierra Vista Regional Health Center (SVRHC) requires to enhance and expand the medical services available within Southern Arizona. This ensures that well into the future, local residents can continue to obtain high quality healthcare close to home. Through this partnership, area residents will be able to receive medical care at a new, technologically advanced, 100-bed hospital that RegionalCare Hospital Partners has agreed to fund and construct over the next three years. Changes in federal and state healthcare reimbursements made it impossible for SVRHC to secure the capital needed to build the new facility and keep pace with the region’s longer-term healthcare needs. In addition to providing funding for a new hospital, the partnership will give SVRHC access to the resources of a system of hospitals, including competitive pricing on supplies, equipment and other purchased services. Best ractices, systems, knowledge, and experience of other hospitals will also be available to the hospital’s employees, medical staff, and administration.