University of Colorado Hospital completes deal with Poudre Valley Health System

Jan. 31—University of Colorado Hospital and Poudre Valley Health System on Tuesday announced the completion of a joint operating agreement to create what will be called University of Colorado Health.
The news will have a major impact in Colorado Springs, because the new organization will assume University Hospital’s role in continuing lease negotiations with the city for Memorial Health System.

“We’re already negotiating with the Colorado Springs City Council to allow us to lease and operate Memorial Health System there,” University CEO Bruce Schroffel said in a statement. “If we reach an agreement, we will have a system that stretches along the Front Range. Poudre Valley would be its northern hub, Memorial its southern hub, with the University of Colorado Hospital at its central geographic and academic core in the Denver metro area.”

University and Fort Collins-based Poudre Valley announced plans to pursue a joint operating agreement last summer. Together, the hospitals have 10,000 employees and annual revenues of about $1.5 billion.

“We’re excited about this partnership because it’s all about improving the quality of care for our patients,” Rulon Stacey, president and CEO of Poudre Valley Health System, said in a statement. “Separately, we have provided extraordinary, safe, inventive and empathetic care for our patients. With our combined strength, we aim to raise the bar for quality in Colorado even higher as we learn from and share with each other.”

Schroffel was named president of University of Colorado Health and chairman of the board, while Stacey will become the organization’s CEO.