Community Health Systems, parent of Northwest Health, has acquired a majority ownership interest in Physician’s Specialty Hospital of Fayetteville, which was formerly owned by a local doctor’s group.
The 20-bed Fayetteville hospital joins the Northwest Health System which includes: Northwest Medical Center-Bentonville, Northwest Medical Center-Springdale, Northwest Medical Center and Willow Creek Women’s Hospital with a total of 434 beds, a combined active medical staff of more than 450 physicians and 2,000 employees working together to provide quality healthcare for the region.
“The addition of Physicians’ Specialty Hospital in Fayetteville deepens our network of facilities in Northwest Arkansas, one of the fastest-growing markets in the U.S. The physicians and providers of this hospital have established a strong reputation for quality care, and we look forward to working with them as we coordinate and strengthen clinical services for the region,” said Wayne Smith, chairman and CEO of Franklin, Tenn.-based Community Health Systems.
The hospital group said collectively Northwest Health System cared for more than 16,000 inpatients, 72,000 emergency room visits and performed 25,000 surgeries last year, making it the largest healthcare provider in the region.
“We see a significant opportunity to create a transformative alliance among our affiliated hospitals and providers that will be recognized for its quality and effective patient care,” said Sharif Omar, CEO of Northwest Health. “As a regional network, we can share expertise and apply our resources to improve access to services, enhance physician recruitment and support quality of patient care.”
In the coming months, Omar said the hospitals and providers of Northwest Health will become more closely aligned as they work to establish an integrated health delivery system for the Northwest Arkansas region. In recognition of the affiliation, Physicians’ Specialty Hospital will now be known as Northwest Health Physicians’ Specialty Hospital. The Fayetteville hospital also will maintain its position as the official orthopedic, spine and surgical hospital for the Arkansas Razorbacks.
Physicians’ Specialty was formerly wholly-owned by a team of 10 doctors, who have retained a minor stake in the business following the sale to Community Health Systems for an undisclosed sum.
“Our leaders chose to align with Northwest Health based on their respect for the quality of patient care provided across the system and their desire to position the hospital for long-term success and strength,” said Dr. David Cannon, chief medical director with Northwest Health Physicians’ Specialty Hospital. “Affiliation with Northwest Health will help us achieve our most important goals and allow us to grow and thrive in service to our community.”
All active Northwest Health Physicians’ Specialty Hospital employees in good standing will be hired in positions and compensation levels consistent with those currently being provided, with their existing seniority recognized, the company noted in the release.
Community Health also owns Sparks Health System in Fort Smith, and Sparks Medical Center-Van Buren.