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The Board of Directors of the Norman Regional Health System will hold a meeting on Monday evening to review the financial status of the system and to assess the possibility of sale or contributions with other health care systems.
After a special meeting earlier this month, which clarified the financial problems of the hospital system. A letter obtained by Oklahoman states that the Norman Regional is reviewing all powers to provide the necessary capital and resources to maintain it. The letter was addressed to the “healing” and “physicians” of the Norman Regional.
The letter states that “the Norman Regional is issuing a proposal (RFP) application for our organization to find potential sale or contribution opportunities.” “Although this is not the way we actually intend to consider, the current financial challenges have forced us to evaluate all the powers that can provide the necessary capital and resources to support our long -term stability and growth.
Earlier this year, the hospital system issued a proposal for a possible sale or contribution with other entities. Norman Regional spokesman, Melissa Heroin, said in a statement that the number 1 of the health system is her patient and has the ability to continue care in the future.
Norman Regional received a negative bond rating from Moodyes
After this announcement, after the release of a negative bond rating by Moody. Last year, Moody’s Norman Regional bonds were reduced to “junk”. Earlier, in September 2024, the CEO of the system, Richie Split, resigned from his post after serving 11 years.
According to the Norman Transcript, in December, the Norman Regional Hospital Tackle Bonds were cut down through BA1, or “stable” to B1, “key credit risk”, bond credit rating business, moody rating, “key credit risk”. Moody said the Norman Regional Health System has a $ 328 million residual debt. The loan played an important role in the hospital bond rating, also known as the hospital’s financial snapshot, has been reduced several times since 2021.
The transcript states that Moody’s wrote: “During the major financial tension, the administration’s business is supported by the risk of high governance related to financial strategy and track records, which is an important driver of this rating process. Will put
Nevertheless, at least one item on Monday cited Dr. Jerome Weber’s call for “Norman Regional Health System to stay free”. The agenda also lists an item about the potential “strategic alignment and talks about the Norman Regional Health System”.
Several area health care systems, including St. Anthony and Oklahoma University, have expressed interest in some kind of partnership.
Jimmy Durnt, director of the Government Affairs of the St. Anthony System, said his system had responded to the Norman RFP.
“We are very interested in partnership with the Norman Regional,” said Durant. “Our system responded to his RFP and we would have a representative attending the board meeting on Monday night. We are interested in hearing what Norman’s board wants to go. “
Durant said St. Anthony manages Poroor Hospital, Weatherford Hospital and other rural hospitals.
The Norman Regional Health System is a multi -campus system that supports the South Central Oklahoma. According to this website, the center of this system is Norman’s newly expanded 775,000 square feet of acute care hospital, licensed for 326 beds.
The board meeting is in the first floorboard room at 3300 Health Plex Parkway in Norman on Monday, March 24, Monday, March 24.
Contributions: Political Reporter Alexia Aston
