The Valley View Regional Hospital board of directors Tuesday night authorized its chairman to develop a letter of intent with Mercy Health Oklahoma. The letter of intent authorization is the first step in a process that will lead to a definitive lease agreement between the two health care organizations should negotiations prove successful.
Mercy was designated Valley View’s “preferred partner” following several months of due diligence. Mercy would assume full operational authority for the hospital in exchange for annual lease payments to the Valley View Regional Hospital corporation should the full process be completed.
The letter of intent, when executed, provides a 90-day window for a definitive lease agreement to be finalized.
“This vote to enter into the letter of intent with Mercy is a step the Valley View board believes will set the stage for continued health care excellence for the people of Ada and the surrounding area,” Valley View board chairman Dean Peterson said. “Our responsibility is to ensure that the people we serve have an outstanding hospital and access to the very best health care available.”
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