Only the largest hospital in the nonprofit Samaritan Health Services chain is not undergoing a remodel or planning for new construction, according to The Lund Report’s latest review of hospital public records.
The Corvallis-based nonprofit was founded in 1997 when Mid-Valley Healthcare and Samaritan Inc. merged in an effort to more efficiently serve their communities. Over the years other organizations have joined Samaritan Health, which now operates five hospitals – two on behalf of public districts. It also runs a coordinated care organization known as InterCommunity Health Network, and sells small group and large group health insurance under the name Samaritan Health Plans. Click here for an in-depth examination of Samaritan Health Serivces, and its five Oregon hospitals.
According to tax filings, Samaritan Health Services ended 2014 – the most recent year available – at a net loss of $821,220, after reporting a $3.7 million profit in 2013. With total assets of $288.97 million at the end of 2014, it was well positioned to absorb the small loss.
Today, four of Samaritan’s hospitals are expanding, remodeling, or preparing for other major structural overhauls: In Albany and Lebanon, construction is underway, while in Lincoln City and Newport, plans for new buildings are being developed. Only Good Samaritan Regional Medical Center is not facing major capital changes.
-- Courtney Sherwood can be reached at [email protected] or follow her on Twitter at @csherwood.